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🚀#BTC > 47,000$ By Crypto Australia

#BTC made a break of the Triangle pattern and the structural resistance area too. Price straight away entered into Resistance now and expected a drop now back to the support zone. Alternatively, a break and close above of daily candle is required for turned the overall market direction. By Crypto Australia

#BTC still moving within a range and made a triangle formation. A range inside a pattern is a strong signal of a big accumulation or distribution goin on. We've to wait for a breakout of the zone either side, and also we're expected a retest back to the major support zone, before moving with any major direction. By Crypto Australia

#BTC.D maintaining above the support zone and already started struggling to push higher. A short-term rally is expected in altcoins and a drop, as Dominance giving signals for a rise. In case #BTC started dropping with rising index then alts with flow with that and might remains the stable too. By Crypto Australia

#BTC now goes with the range as expected, price started ranging between the $42,000 and $45,000 level. Price kept on hodling the trendline too, if this sustains then its good, and approach towards the $43,500 and $45,000 is expected otherwise, a drop back to $42,000 will kept this range going on. By Crypto Australia

🤩#BTC. Significant area 912,626 BTC were transacted at the $42,560 price level, making this the most significant area of ​​interest to date. By Crypto Australia

#BTC made a weekly closing with the rejection and as per our daily analysis price is expected back to retest the major support zone and the probability of breaking/ deeper retracement is increased. Looking into the H4 TF, its going same, as expected a range, so have a eye on retest now. By Crypto Australia

Amidst market fluctuations and sell-the-news events, long-term #BTC holders remain composed. Supply Last Active metrics show a slight decrease in older supply movement, but overall, the majority of holders stand resilient, approaching all-time highs in held supply percentages across various age bands. 🔴 1+ Years Ago: 69.9% 🟠 2+ Years Ago: 56.7% 🟢 3+ Years Ago: 43.8% 🔵 5+ Years Ago: 31.5% By Crypto Australia

The significant redemptions taking place from the Grayscale GBTC product as a closed end trust fund, GBTC amassed an extraordinary 661.7K #BTC in early 2021, as traders sought to close the NAV premium arbitrage. After many years of trading at a severe NAV discount (with a very high 2% fee), conversion to a spot ETF has triggered significant a re-balancing event. Around ~115.6k BTC have been redeemed from the GBTC ETF since conversion, creating significant market headwinds. By Crypto Australia

#BTC pushing as per the plan and kinda slow now, price now reached the Resistance Formed on Daily and will act as the obstacle for it. Therefore, price is still expected to reach the major resistance and continue the range. Monthly, closing already done and its constitutive bullish for 5 months now, so eyes on weekly closing now. By Crypto Australia

#BTC goes with the 2nd scenario, tries to push from the structural level but dropped back to wards the major support zone. Now, price is anticipated to push higher and move back to up the structural resistance zone and major resistance zone too around $45,000. By Crypto Australia

#BTC.D did gave a close above of the zone, and #BTC also sitting on the crucial level of $42,000. In case, index start pushing from here and #BTC remains the same, then bleeding in alts may start again. Currently, there's an open room for the movement after the retest, so better prepare for it. By Crypto Australia