Bitcoin is expected to experience a surge in bullish momentum in the near future

From Investing.com

September 18, 2024 2:30:20 pm:

On-chain analyst Willy Woo predicts a surge of bullish momentum for Bitcoin in the near-to-intermediate-term future, based on price trends and Bitcoin inventory on exchanges. He anticipates a bullish swing continuing for at least another week, noting a bull flag on the chart signaling sustained upward movement after consolidation.

Woo’s analysis suggests a promising signal for traders, as exchange inventory remains flat and spot Bitcoin accumulates in the medium term. The accumulation implies consistent buying in the spot market by investors and long-term holders, potentially indicating an impending bull market move if demand persists.

Although cautious, Woo highlights the possibility of a short squeeze causing liquidations and raising Bitcoin’s price, leading to a firm entry into a bullish phase. Market dynamics are currently neutral to bearish, but a swift change could shift it towards a more positive direction for traders and investors.

Read more at Investing.com: Next Bitcoin (BTC) Move Discovered by Top Analyst Willy Woo By U.Today