Analyst Willy Woo: The incremental sell-off of Bitcoin's accumulated trading volume has peaked, and it will enter an upward phase thereafter

ChainCatcher message, Bitcoin analyst Willy Woo stated that the current cumulative volume delta (CVD) sell-off of Bitcoin has peaked, and it will enter an upward phase afterwards, but it will take several weeks to reach a proper bullish environment. On one hand, the Bitcoin halving is approaching, and on the other hand, the longer Bitcoin consolidates near its historical high price, the more coins will be exchanged among investors. Once a breakout occurs, it will form long-term support. If it is liquidated at a lower price and falls below the support level of $59,000, a bear market may be on the horizon.