{"id":449681,"date":"2021-11-13T13:00:54","date_gmt":"2021-11-13T13:00:54","guid":{"rendered":"https:\/\/wncen.com\/?p=449681"},"modified":"2025-06-11T14:08:21","modified_gmt":"2025-06-11T14:08:21","slug":"why-traders-growngly-expect-bitcoin-reaccumulation-at-15k-before-next-run","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/why-traders-growngly-expect-bitcoin-reaccumulation-at-15k-before-next-run\/","title":{"rendered":"Why Traders Growngly Expect Bitcoin “Reaccumulation” At $15K Before Next Run"},"content":{"rendered":"
The price of Bitcoin (BTC) surpassed $16,000 with strong momentum and has remained above the resistance-turned-support area since the initial breakout. Yet, traders are turning slightly cautious,<\/a> anticipating a “reaccumulation” trend in the near term.<\/p>\n The term reaccumulation refers to investors gradually rebuying Bitcoin after a massive rally. This allows the dominant cryptocurrency to consolidate, rebuild momentum, and neutralized the overheated market.<\/p>\n There are several reasons to expect a reaccumulation trend or consolidation could occur<\/a> in the foreseeable future. These factors are historical cycles, greed in the market, and high unrealized profits.<\/p>\n <\/p>\n Technical analysts, including John Bollinger, have said consolidation in the Bitcoin market is becoming increasingly likely.<\/p>\n Bitcoin recently exceeded the $16,000 resistance level for the first time in nearly three years. This also means that the $16,000 to $17,000 range remains an attractive area for sellers.<\/p>\n Albeit the hourly and daily charts for Bitcoin depict a rather stable upward movement, high time frame charts show a steep climb to the $16,000 level.<\/p>\n Both the weekly and monthly charts of Bitcoin are significantly above short-term moving averages (MAs), such as the 5-day, 10-day, and 20-day MAs. This could indicate that BTC is overbought at higher time frames.<\/p>\n A pseudonymous trader known as “Crypto Capo” said that reaccumulation between $14,500 and $16,000 is likely. “I expect reaccumulation range between 14500-16000,” the trader said<\/a>.<\/p>\n According to Alternative’s Crypto Fear & Greed Index, the Bitcoin market is exhibiting signs of “extreme greed.”<\/p>\n Out of a scale of 100, with zero signifying fear and 100 showing greed, the Bitcoin market is currently at around 89.<\/p>\n Based on similar on-chain metrics and the historical technical structures of Bitcoin, traders expect volatility between $14,000 and $16,000.<\/p>\n <\/p>\n Atop the technical and fundamental factors, on-chain data shows that traders are generally sitting on large unrealized profits.<\/p>\n The term unrealized profits refer to the gains of traders that are yet to be realized by selling.<\/p>\n When traders begin to sell large unrealized profits, it could cause a profit-taking pullback to occur. Consequently, Bitcoin could start to consolidate, which might lead to reaccumulation.<\/p>\n One variable that could prevent a steep drop from occurring in the Bitcoin market is the decline in exchange reserves.<\/p>\n Traders typically deposit BTC into exchanges when they plan to sell their holdings. As such, when reserves decline, it demonstrates an intent to sell BTC from traders, and vice versa.<\/p>\nThe 1-hour price chart of Bitcoin. Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Historical Cycles Point Toward Bitcoin Reaccumulation in the $15K Region<\/h2>\n
Extreme Greed in the Bitcoin Market<\/h2>\n
A potential Bitcoin reaccumulation trend. Source: Edward Morra, XBTUSD on TradingView.com<\/pre>\n
Traders Are Sitting on Large Unrealized Profits<\/h2>\n
There is a Variable in the Form of Exchange Reserve<\/h2>\n