Does this mean the uptrend had stalled? News of Do Kwon, co-founder and CEO of Terraform Labs, buying $1b worth of BTC since the end of January has fueled the enthusiasm of the bulls.
The region marked in orange is a nearly 15-month range that Bitcoin has traded within, with highs and lows at $64.8k and $29.2k respectively.
The market structure shifted to a bullish bias when BTC climbed past $44.4k to reach $45.8k, and also succeeded in posting a higher low on the chart in the month of February.
The market structure was bullish, evidence of demand was present and the momentum was also in favor of the bulls.
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