The flagship of the crypto market overcame the key supply area of $21,000 and reached a three-month extreme. According to experts, the last couple of weeks, consumer activity is clearly showing signs of recovery. The past year turned out to be really difficult for the digital asset industry, and bitcoin itself sank in price by 65%. But since the beginning of this year, Bitcoin has been steadily strengthening its position.
Experts noted that many investors were caught off guard by the recent BTC jump to $21,000. Most market participants are likely to wait for a correction to open long positions at more favorable prices.
Experts said: now there is a local activity of sellers, but it can hardly significantly affect the balance of power. It is possible that the market will leave the bears behind and attempt to grow up to the $25,000 mark.
The flagship cryptocurrency is showing clear signs of recovery. Therefore, we can expect that bitcoin will continue to strengthen its position in the near future.
An analyst under the pseudonym IncomeSpark spoke about the prospects of the cryptocurrency industry. He stated that this trading week will be important not only for the digital assets segment, but also for the stock market.
The expert stressed that if investors managed to enter long positions on BTC before the bullish rally develops, it is better not to take any action, but simply observe the further development of events. Anyone wishing to join the bull run, it is better to wait for a certain pullback of quotes and only after that open long positions. IncomeSpark stressed that sellers are still active, but buyers are very strong in the current conditions and will defend their positions.