FxWirePro- Woodies pivot (Major) 
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Bitcoin Surges Past $77,000 on Whale Accumulation and Bullish Technicals 
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BTCUSD gained sharply and surged more than $10000 in the past three days on institutional demand and whale accumulation. It hit an intraday high of $79500 and is now trading around $77673.
Large holders, especially "mega-whales" with over 10,000 BTC, have turned net buyers over the last two months, amassing around 43,000 BTC, notwithstanding Bitcoin's price range-bound trading and mixed ETF flows. Strongest in the $60k to $64k range, this build-up signals a change from past net selling. Though some daily inflows to exchanges and selling pressure from miners and spot ETFs imply redistribution rather than a collective positive conviction, the total on-chain data points to an "early accumulation" phase, which historically signals that smart money is gradually raising its stakes and which comes before major price rises.
|
Technicals |
CMP -$77673 |
Trend |
|
|
4-hour chart |
Value |
|
|
|
55 EMA |
$66432 |
CMP>55 EMA |
Bullish |
|
200- EMA |
$64755 |
CMP> 200 EMA |
Bullish |
|
365- EMA |
$65054 |
CMP>365 EMA |
Bullish |
|
800-EMA |
$68072 |
CMP>Value |
Bullish |
Major support: $60000/$57700/$52796. The pair is facing strong resistance around $80000. Any break targets $82800/$90000..
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
269 |
|
ADX |
Bullish |
Strength increased from 33 to 56 |
It is good to buy on dips $74300 with an SL around $70000 for a TP of $79500/$82800/$90400.
