#BTC
Bitcoin's current price action is shaping up to be a very similar pattern to what we saw in February last year.
So, even though the Stochastic RSI is extremely overbought, it did not stop the bullish momentum from breaking out and gaining an additional 45% over 5 days just over a year ago.
We are starting to see BTC ETF inflows ramp up significantly:
21 April $387m
22 April $936m
23 April $917m
24 April $442m
25 April $380m
Michael Saylor continues to load up, now sitting with 538,200 BTC valued at $50.55B,
Bitcoin on Exchanges has dropped from 2.7 million to 2.2 million over the past 4 months. The Supply/Demand equation is getting extremely interesting, which could create a massive surge in price over the coming months.
As much as I am expecting a retracement to reset buying momentum, there is certainly a chance that we do not get the retracement and repeat what we saw in February last year.
