Bitcoin is moving sideways, but seems set for a lunar week

Bitcoin retested the $ 60,000 resistance and pulled back for support. At the time of writing this article, BTC is trading at $ 57,500, moving horizontally in the lower and upper timeframes. BTC is moving sideways on the daily chart. Source: BTCUSD Tradingview Anonymous investor IncomeSharks set the support at $ 53,000, with $ 59,000 as the first price target BTC managed to reach. However, the selling pressure on this brand appears to be high as many retail investors still keep price action. In the coming days, trader Pentoshi expects the BTC price to gain enough momentum to break the resistance at the altcoin expense. As the trader said, Bitcoin's dominance may recover after falling below 50% in the short term: I think the BTC $ will have a big boom next week. PoC reaching 90 days is the gathering of 4-hour emas serving as support. The last thing I want to do is overexpose myself during this move. Analyst Willy Woo shares the same thesis and predicts a capital transition from altcoins to BTC soon. As noted below, as Woo claimed, BTC's dominance has entered the "high probability" area for a trend reversal. Source: Willy Woo Many investors are wondering if BTC has reached a local peak, as it did in January 2018, when a three-year bear market started. However, Woo believes that there are several indications of this cycle and that many BTC are moving from short-term investors to "strong holders". Source: BTC supply in strong hands As seen above, BTC went parabolic in 2017 and the number of coins held by short-term investors increased. In this bull race, the opposite happened. As the price of BTC rises, the percentage of supply going to its long-term owners increases "unprecedented". Woo added: We will not enter the bear market under any circumstances. It is clear this week thanks to the price action, but not so clear when the sky fell 2 weeks ago. Coins entering corporate treasuries are likely to have an impact. Main support of Bitcoin Bullish Sentiment Sever support

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