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Bitcoin Building Massive Support Range
Bitcoin is stuck between strong support and resistance. Breaking out of this range, up or down, will be difficult, minus a surprise ETF approval. While we’ve been in this range for six months, fundamentals have continued to improve. For instance, the number of bitcoin addresses with >1 btc continues to grow, nearly 30% of bitcoin’s supply hasn’t moved in 5+ years, asset allocators with a total of >$17 trillion in assets under management have applied for bitcoin spot ETFs, bitcoin continues to come off exchanges, and the halving is coming. Price will eventually break the resistance and this range will then become massive support.
Source
On the daily chart below, we see $25,000 held fi
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