{"id":199809,"date":"2021-03-11T21:23:34","date_gmt":"2021-03-11T18:23:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-in-stasis-analyst-says-btc-consolidation-nearly-complete\/"},"modified":"2021-03-11T21:23:34","modified_gmt":"2021-03-11T18:23:34","slug":"bitcoin-price-in-stasis-analyst-says-btc-consolidation-nearly-complete","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-in-stasis-analyst-says-btc-consolidation-nearly-complete\/","title":{"rendered":"# Bitcoin price in stasis \u2014 Analyst says BTC consolidation \u2018nearly complete\u2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc13c7c363\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc13c7c363\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-in-stasis-analyst-says-btc-consolidation-nearly-complete\/#BTC_flows_to_those_with_%E2%80%9Cvery_little%E2%80%9D_selling_history\" >BTC flows to those with &#8220;very little&#8221; selling history\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-in-stasis-analyst-says-btc-consolidation-nearly-complete\/#Bitcoin_critics_ignore_%E2%80%9Copportunity_cost%E2%80%9D\" >Bitcoin critics ignore &#8220;opportunity cost&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price in stasis \u2014 Analyst says BTC consolidation \u2018nearly complete\u2019 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) may be having problems cracking all-time highs but one of its best-known analysts believes its sideways trading is &#8220;nearly complete.&#8221;<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/woonomic\/status\/1370040788097191936\">series of tweets<\/a> on March 11, Willy Woo pointed to multiple on-chain factors suggesting that fresh BTC price upside is imminent. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_flows_to_those_with_%E2%80%9Cvery_little%E2%80%9D_selling_history\"><\/span>BTC flows to those with &#8220;very little&#8221; selling history\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin saw a return to form on Thursday after a dip to $54,400 abruptly reversed, sending BTC\/USD to highs of $57,200. <\/p>\n<p>With buyer support in evidence, the pair is nonetheless still to break out of its current wide trading range, bordered by record support at $46,000 and the current all-time highs of $58,300. <\/p>\n<p>For Woo, however, weak hands evaporating and stronger ones stepping in formed the backbone of a bullish take which calls for the end of this consolidatory price phase.<\/p>\n<p>&#8220;Strong hands came in to buy this latest dip,&#8221; he said, alongside a chart showing BTC flowing to wallets &#8220;with very little history of selling.&#8221;<\/p>\n<blockquote><p>&#8220;The second major consolidation of the 2021 bull market is nearly complete.&#8221;<\/p><\/blockquote>\n<p>Data tracking changes in the liquid supply of Bitcoin showed more and more leaving the market during March.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/9577e775-e494-477a-9147-ffb1f35a8042.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin liquid supply change chart. Source: Willy Woo\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>On the topic of support, Woo pointed to data from on-chain monitoring resource Glassnode showing that even at $55,000, Bitcoin was a popular purchase among investors.<\/p>\n<p>&#8220;A nice confirmation of the validity of these price levels,&#8221; he added.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/8dc180a4-e83b-4330-aff3-09a1d79ca73b.jpeg\"><figcaption style=\"text-align: center;\"><em>Bitcoin unspent transaction output (UTXO) realized price distribution chart. Source: Glassnode\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_critics_ignore_%E2%80%9Copportunity_cost%E2%80%9D\"><\/span>Bitcoin critics ignore &#8220;opportunity cost&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The buoyant perspective counters the remaining naysayers from within cryptocurrency and the mainstream media, who continue to claim that the Bitcoin is anything but a sensible investment opportunity.<\/p>\n<p>Among them was gold bug Peter Schiff this week, who balked at <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that his son, Spencer, had reportedly gone 100% Bitcoin.<\/p>\n<p>&#8220;He sold the last of his #silver stocks to raise the cash,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1369695876726276106\">tweeted<\/a> on Wednesday. <\/p>\n<blockquote><p>&#8220;If my own son is this brainwashed imagine how vulnerable most kids are. He&#8217;s HODLing to infinity or bust.&#8221;<\/p><\/blockquote>\n<p>With institutional engagement still in full swing, however, Bitcoin proponents delivered repeat warnings about the consequences of ignoring the largest cryptocurrency as an asset class altogether.<\/p>\n<p>&#8220;Anybody in the world can get bitcoin. If you kept your money in anything else, you are forgoing bitcoin,&#8221; Saifedean Ammous, author of the popular book, &#8220;The Bitcoin Standard,&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saifedean\/status\/1370027009934422024\">summarized<\/a>. <\/p>\n<blockquote><p>&#8220;Unless you are beating bitcoin <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>reciation with whatever you&#8217;re doing, you&#8217;re losing satoshis. Bitcoin is the new universal unit for measuring opportunity cost.&#8221;<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-in-stasis-analyst-says-btc-consolidation-nearly-complete\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price in stasis \u2014 Analyst says BTC consolidation \u2018nearly complete\u2019 &#8221; Bitcoin (BTC) may be having problems cracking all-time highs but one of its best-known analysts believes its sideways trading is &#8220;nearly complete.&#8221; In a series of tweets on March 11, Willy Woo pointed to multiple on-chain factors suggesting that fresh BTC price&#8230;<\/p>\n","protected":false},"author":1,"featured_media":199810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvYzg2Njk5MWMtMDZkZi00ZDg0LWE1ZmQtNjBlOWFmYjBiY2EzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74863,74860,73785],"class_list":["post-199809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/199809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=199809"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/199809\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/199810"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=199809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=199809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=199809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}