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Bitcoin 180-Day Range Compressed For 3rd Time This Cycle: What Could Follow Next?

  • Bitcoin's 180-day range has been tightening recently, signaling a potential explosive move according to past patterns.
  • This is the third time in the current cycle that Bitcoin's price has compressed into a tight range, typically preceding a sharp rally.
  • Historically, the 2017 bull run was preceded by three similar occurrences of compression in the 180-day range, leading to significant price increases.
  • Glassnode analytics firm notes that almost the entire Bitcoin market is currently in an accumulation phase, indicating a bullish sentiment among investors.

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