Willy Woo: 'Rick Astley' hodlers a key force again and on-chain signals sugge...
Those that are never gonna give up BTC are still accumulating according to the analyst. Bitcoin technical analyst Willy Woo believes that this is not a bear market because on-chain indicators are signaling a recovery and the asset is still being bought by long-term hodlers.The popular analyst’s comments came in an interview on the “What Bitcoin Did” podcast on June 28. Woo stated that he does not believe that Bitcoin is in a typical bear market due to signs of accumulation showing on-chain.Referring to the 1980’s hit song “Never Gonna Give You Up” by British pop artist Rick Astley, Woo....
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$42,000 is becoming an increasingly important battleground for Bitcoin bulls and bears. On-chain analyst Willy Woo asserted that Bitcoin (BTC) would break above the $42,000-resistance level in its coming attempts. The researcher based his bullish analogy on the so-called Rick Astley indicator, a heat-map that tracks investors—the Rick Astleys of this world—that buy Bitcoin to hold the asset for longer timeframes.The indicator earlier predicted Bitcoin price spikes based on investors' buying activity below certain technical resistance levels. Investors' buy-and-hold habits tracked using....
According to Willy Woo, a prominent on-chain analyst, Bitcoin is likely going to move toward $200,000 to $300,000 in the coming year. He cited a technical price model that has accurately predicted some key inflection points in Bitcoin’s price history. Bitcoin Could Hit $200,000 in the Coming Year: Willy Woo According to Willy Woo, a prominent on-chain analyst, Bitcoin is likely going to move toward $200,000 to $300,000 in the coming year. Referencing the chart […]
On-chain metrics detect strong "sophisticated passive buying" on spot exchanges and a rise in the movements of Bitcoin to whale wallets. Bitcoin (BTC) hodlers, a class of crypto investors that hold onto their bitcoin tokens for at least 155 days, have been dumping them lately.Adjusted Bitcoin supply shock. Source: Willy WooThe price recovery witnessed in the Bitcoin market across the last two weeks coincided with a rise in hodlers and speculative investors selling their coins, according to data provided by researcher Willy Woo. Nonetheless, BTC's price ability to withstand the selling....
Willy Woo says Bitcoin could hit $200,000 in 2021 because long-time investors are more confident in the ongoing rally. According to on-chain analyst Willy Woo, the price of Bitcoin (BTC) could achieve a "conservative" target of $200,000 in 2021. The prediction revolves around the fact that long-time investors seem more confident in the recent rally.There are two key data points that suggest Bitcoin’s ongoing rally could explode higher. First, “HODLers,” or long-time BTC holders, aren't moving their funds for longer than in previous rallies. Second, BTC held on exchanges continues to....
Bitcoin and most major altcoins have recovered from last week’s sell-off, but they are still facing selling at higher levels, suggesting that the market could remain range-bound for a few days. Bitcoin (BTC) and Ether (ETH) recovered a large part of the losses that happened due to the knee-jerk reaction to China's regulatory crackdown on Sept. 24. This suggests that crypto markets have absorbed the news-based selling, with long-term investors likely using the dip to accumulate.However, a rally may have to wait as market participants watch the outcome of the infrastructure bill this week,....