Bitcoin Attempts a Pattern Break, but One Group Could Still Block the 15% Rally

Bitcoin is trading near $93,300 and is showing signs of an upward trend, confirmed by a developing inverse head-and-shoulders pattern on the 12-hour chart, suggesting a potential 15%+ rally toward $108,300.

However, the rally's sustainability is questionable because the buying pressure is primarily driven by short-term holders, whose supply has recently increased. These speculative traders are quick to sell, creating instability.

Crucially, long-term holders (HODLers) have shown negative net position changes for 14 consecutive days, indicating they are not accumulating. A secure breakout requires a 12-hour close above the $93,200 neckline; failure to hold above $90,400 could invalidate the bullish structure.

(Source：BeInCrypto)