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$BTC $SOL InvestAnswers, a widely followed analyst, believes that Bitcoin, Solana, and other crypto assets are currently in a "classic bear trap" before an euphoric move. This means that the decline in prices is being misinterpreted as the start of a bearish trend, when in fact, it's a temporary development that will reverse upwards ¹. According to InvestAnswers, a bullish reversal pattern has formed on Bitcoin, with the crypto king stagnating around the $82,000 area for seven or eight days, forming a classic double bottom. Bitcoin is currently trading at $81,602 ¹. As for Solana, InvestAnswers thinks it's "drastically undervalued" at the moment. Using a math model, he estimates that if Solana were valued like Bitcoin based on users, revenue, adoption, and transactions, its market cap would be $24 trillion, 12 times more valuable than Bitcoin ¹. InvestAnswers is 95% sure that we're still in a bull market, and advises investors not to leave the market at this stage. He believes that the current bear trap is designed to shake out weak hands, but ultimately, the market will reverse upwards, leading to an euphoric move ¹.

📊 Is the #BTC downtrend over? 🧠From a structural perspective, the current rally is over. If we want to reverse the daily downtrend, we need to build a bullish structure of the same cycle. That is to say, we can only remain optimistic if we succeed in standing above 84,500. ➡️If we continue to break below the low L: 76,562, the next support area worth our attention is 69,000-72,000 Let's see👀 🤜If you like my analysis, please like💖 and share💬$BTC

 $WLD TP2 ✅🔥 Many were too scared to take long position, but my chart & reversal signs were very clear!  We may see a trend breakout soon, prices will probably visit the 0.880 - 0.900$ resistance area next 📈  Monitor the green support zone!  

Bitcoin whales have moved majorly in the past 72 hours, adding more than 22,000 BTC to their accounts. In data from CryptoQuant, shared by analyst Ali (@ali_charts), the total balance of whale wallets saw a significant spike pushing the overall holdings to more than 3.42 million BTC. This large increase in accumulations came at a time when the price of Bitcoin rose rapidly approaching $98,000. With such a sudden gush of buying pressure, market participants are closely watching whether this signals a new rally or positioning by whales in preparation for a corrective move. The percentage change in whale holdings over 30 days went positive, signaling renewed buying after a length stretch of declines, which was the time accumulation by whale wallets was on a gradual decline in the month of February. However, this recent spree of buying flipped the situation around. This was also seen in the similar movement of the price of Bitcoin, which printed high from approximately $82,000, nearing $98,000. The black price line on the chart shows that this rally has strong tailwinds due to accumulation by whales, indicating some level of confidence in the long-term growth of the asset. Total balances of whale wallets, excluding exchange and mining pool addresses, stabilize at over 3.42 million BTC. The monthly percentage change shown in the purple shaded area portrays accumulation, which surpasses selling for the first time in weeks. Historically, such buying patterns lead to prices steeping upward due to reduced BTC supply in the market; hence, limits pressure from selling. Increasing whale demand suggests that these deep-pocket entities are gearing up for a possible breakout event that could send Bitcoin above current highs. With Bitcoin almost touching $98,000, traders are really weighing the market’s ability to hold this bullish run. The increase of almost 40% in whale holdings supports continued upward travel, but external market forces will play a big factor in determining momentum. Some are skeptical, as in the past these types of accumulation phases have preceded some short-term corrections. The selling pressure would be light, keeping us from making a deeper pullback as long as whales continue to transfer BTC onto their balance sheet. The next few days will tell us if this fallout leads to a breakout or if Bitcoin lingers close to its current levels. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

The chart above presents an alternate view of the recent price action of $COIN. After hitting a top early 2023, the asset went through some major moves with price consolidating within an upward-sloping channel. A potential accumulation around this level looks then likely for a breakout. The most recent chart shows that price is attempting to test the lower bounds of this channel where an opportunity for another comeback may arise, contingent upon strong participation by the bulls in the near term. Thus says the chart about the price movements of $COIN since mid-2020 owing to a stirring flight on buying interest to $585.48, commencing downward correction in early 2021. A massive swing downwards saw the token enter a consolidation phase around the $150 level, trending upwards up to mid-2022. By second-half 2023, price attempted another high before enjoying a healthy correction, presently residing around $150 to $175. Of keen interest is the fact that since mid-2023, volume bars have steadily declined, indicating not much on strong selling pressure but also reluctance of buyers to drive the price up into higher territory without a catalyst. The chart also shows two prominent trendlines: a long-term support line drawn from the lows in 2022 and a resistance line that has capped price in 2023 and early 2024. Presently, the asset is sitting at the bottom of the channel, testing the area surrounding $145, an area that has been holding as support since mid-2023. If, on the other hand, price goes below that area, a further downtrend can be expected towards $125, which is a key support zone seen years before. A bounce off that lower trendline, however, would affirm the preceding upward trend as possible, especially with increasing buying volume in the coming weeks. Volume analysis suggests the market is in a standstill pattern. Volume flow has been declining over the past few months, implying indecision. Only a change in the market sentiment induced with substantial buying pressure would launch a rally. The price pattern and low volume render it highly vulnerable to fast moves in either direction. So investors should exercise caution and watch closely for signs of a volume spike that might indicate a change in market dynamics. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.