7 Charts To Understand Why What Is Currently Happening With the Price of Bitcoin Is Bullish.
The acceleration seems very close.
With the weekend fast approaching, it's time for a Bitcoin price update on In Bitcoin We Trust Newsletter. I explained earlier this week why I thought it was Bullish that so many people were Bearish with the price of Bitcoin at $40K.
We have since seen that the price of Bitcoin continues to follow its support line starting at the January 2022 bottom at $32.9K. The price of Bitcoin has bounced off this rising support line 6 times, resulting in Higher Lows (HL) each time:
If there is selling pressure in the short term, we see that it is being absorbed by long-term HODLers who want to accumulate as much BTC as possible at what they consider to be an attractive price level.
So the big question is: what’s next for Bitcoin price?
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