No lengthy discussions here, to put it simply, if there are no significant signs of large investors exiting a certain Bitcoin range, it won't put much pressure on the BTC price. Moreover, through URPD data, we can see that the daily trading is mostly done by short-term investors, indicating that more investors are unwilling to participate in trading.

In layman's terms, if a large accumulation zone on the blockchain does not break out or collapse, it is very likely to oscillate around this position as a core. This was the case at $19,000, $26,000, $38,000, and $63,000. For example, even when it dropped to $56,000 last year, the support held, and it eventually returned above $63,000.

Here’s a chart from that time, which looks structurally very similar to now. However, because the oscillation lasted too long back then, it restructured into a bottom formation between $61,000 and $66,000, which is what we see now.

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