Bitcoin enters ‘Wyckoff Phase E’ – Mapping BTC’s path to $125K and beyond
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Bitcoin has entered Wyckoff Phase E, marked by a 'golden cross' on the daily chart, indicating bullish sentiment and targeting $125K short-term. Analysts predict a potential rise to $260K by August-September, driven by declining withdrawal activity. Upcoming U.S. Senate crypto legislation could influence market dynamics, with possibilities of re-accumulation or distribution phases. The current decline in Bitcoin withdrawals suggests reduced selling pressure, supporting price momentum. Overall, macro conditions and regulatory developments will play crucial roles in Bitcoin's future trajectory.
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