Cryptocurrency analyst Willy Woo has commented on the current state of Bitcoin (BTC).
In an X post dated March 28, Woo analyzed Bitcoin. Stating that the price has been consolidating for about two and a half months, the analyst said that this data is very positive.
He pointed to the Bitcoin Macro Oscillator (BMO) chart, stating that the consolidation has created a large playing field for Bitcoin.
Stating that the BMO has descended one level during this consolidation process, Woo emphasized that this indicator has 2-3 levels of upward movement before reaching the macro peak.
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In line with this data, while implying that the new peak point may be carried to higher prices than expected, the following statements were included in the details of the explanation:
This 2.5-month consolidation under demand for increase was very good for #Bitcoin, which means that the price has more room to move before reaching the peak.