PK Press Club – With analyst Willy Woo highlighting increased capital inflows into the network, interest in price fluctuations and network dynamics is increasing. Woo claims that when Bitcoin sideways trading quietly moves into stronger hands, an accumulation zone is being created. He says that if inflows continue in the coming days, this accumulation phase could lead to an all-time high.
The degree of network activity and investor interests is reflected in the capital inflows metric. There is a further increase in demand as these inflows increase. If sustained, this demand could serve as a catalyst for bitcoin to break through important resistance levels and reach new highs. Bitcoin is still in an uptrend, as evidenced by the higher highs and higher lows of its prices.
While support levels near $98,000 and $92,000 provide solid foundations, the breakout from the long-term descending trendline has confirmed bullish momentum. An upward trajectory is reinforced by the 50-day and 100-day moving averages. The psychological $110,000 mark is one of the important short-term levels to keep an eye on as it can serve as a springboard for further gains.
Conditions for a rally towards the previous peak and beyond Bitcoin can be created if it is able to overcome this resistance with strong volume. However, as the market may face additional challenges, caution is necessary. The upward trend may be stopped if capital inflows decline or current support levels are not maintained.
In order to avoid a deeper correction or slide in consolidation, bitcoin must maintain its recent bullish structure. Bitcoin’s price action and fundamentals point to a bright future. With consistent capital inflows, WOO’s analysis strengthens the case for a potential all-time high.
