For most tools, there is the formation of an additional intermediate small accumulation at the lower flat border. In the medium term, we should expect a BTC recovery to $54 000–55 000. Asset flow from the resistance to support will be the trigger for future growth, 8848 Invest’s analyst Mark Sorokin says.
Over the past month and a half, the market situation hasn’t changed significantly. The only thing that can be noted is the large accumulation continuation, as well as the formation of an additional intermediate small accumulation that began just a few days ago at the lower border of this flat trend.
‘This additional accumulation is observed for most tools including BTC, ETH, LTC, and XRP. I expect this accumulation will eventually turn out to be a sellers’ liquidity capture and cause BTC to grow to the upper limit of a large flat movement at the area of $48,000,‘ the expert notes.
In the medium term, we should expect the coin recovery to $54 000–55 000, the range of the previous fall source, where the key resistance is located. With a high degree of probability, it can be assumed the BTC will move in this direction.
The bottom ETH accumulation is already greater than at the top, so if the coin comes out of this accumulation up, it will update the highs above $4,000.
‘For LTC, the benchmark is the $400 mark. On some exchanges, in particular, Kraken, the coin price reached a historical high above $430. The price didn’t break through higher, so we should also expect an update of the LTC maximum,’ Mark Sorokin notes.
We need to look at the actual picture, in which direction the quit out from this flat will occur. Previously, some nuances indicate there is a capital flow from resistance to support. It will be a trigger for future growth.