đWHAT DOES THE MONTHLY BITCOIN CHART TELL US? $BTC
BTC
64,552.8
-4.27%
While lower timeframes can be noisy and inconsistent, the monthly chart offers a clearer picture of the broader market sentimentâspecifically between accumulation and distribution phases.
âĄïž Long upper wicks often signal failed bullish momentum, hinting at distribution and potential downtrends.
âĄïž Long lower wicks, however, indicate strong dip-buying behaviorâoften by whalesâpointing toward accumulation and likely bullish continuation.
Currently, weâre witnessing the second scenarioâa long lower shadow signaling active accumulation and increased bullish strength. This aligns with ongoing market optimism and confirms the continuation of the bull rally will continue âš