Bitcoin (BTC) Price Prepares for Next Potential Surge After Recent High 📈
Bitcoin's price recently approached its all-time high, but indicators like DMI and NUPL suggest a period of consolidation or minor correction may precede any further surges. DMI shows a softening in BTC's uptrend momentum with sellers holding momentarily stronger positions than buyers.
NUPL remains positive, indicating most holders are still in profit, but sentiment is more cautious and below euphoria levels. This reflects some recent profit-taking or a pause in overall market optimism.
Short-term EMA lines above long-term EMAs suggest a bullish trend, providing a positive outlook for potential further gains. However, the narrowing gap between EMAs indicates that bullish momentum has slowed.
If BTC's uptrend resumes, it could aim for new highs, but a pullback to test key support levels could occur first. A failure to hold these supports might result in an 11.4% correction.
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