Bitcoin Setting Up for Break of All-Time Highs As Capital Flows Into BTC Ramp Up, Says Analyst Willy Woo

Veteran Bitcoin analyst Willy Woo says that the flagship cryptocurrency is organising for a possible break of recent highs amid rising capital flows.

Posting to the social media platform X, Woo tells his 1.1 million followers that Bitcoin (BTC) fundamentals have turned bullish, and that its present construction is “not a nasty setup” for a break of all-time highs.

“Capital flows into the community are ramping up.

Each whole and speculative flows have bottomed. When each align, they be part of forces to make a bullish atmosphere anchored in fundamentals.”

Nonetheless, within the close to time period, Woo says there’s a excessive probability of extra sideways value motion earlier than BTC features the power for a brand new leg up, noting that his volume-weighted common value (VWAP) indicator is comparatively excessive.

VWAP is the typical value of an asset over a time period, however weighted for buying and selling quantity.

“…however within the brief time period, on-chain VWAP is at +three customary deviations, that means it’ll be laborious to maneuver upwards with first rate momentum as a result of overextension.

Sideways motion or, in probably the most bullish case, a sluggish grind upwards is the order of the day.”

Says Woo in abstract,

“BTC is organising for one more break of all-time highs if the capital movement pattern continues. It’s a stable long-term setup.

All dips are for purchasing underneath the current regime. Within the very brief time period, there are good probabilities of dips.”

At time of writing, Bitcoin is buying and selling at $93,768, up 11% within the final seven days.

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