According to Twitter user @el_crypto_prof, who goes by the name Moustache, the window for accumulating Bitcoin at lower prices has likely closed.
In a recent tweet, Moustache stated that based on his technical chart analysis from over a month ago, Bitcoin has now left what he calls the “yellow zone” between $25,000 and $31,000.
This sideways trading range signified a period of accumulation, but Moustache says Bitcoin breaching above it signals “the end of accumulation and the start of the bull run.”
With Bitcoin’s price presently around $34,000, his analysis suggests the days of buying Bitcoin at under $31k are over. Moustache closed his tweet by wishing “good luck to all those who have used the last few years to accumulate” the cryptocurrency.
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So for investors hoping to buy Bitcoin at cheaper prices, the opportunity may have passed. Moustache’s technical analysis indicates the market has shifted to an uptrend, meaning further discounts are unlikely.
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