- On the chart, Bit is trading in an accumulation zone, indicating the potential for an imminent breakout. - However, the market is currently calm, as Bit seems to have slowed down in its movements. Bit has had almost no major changes throughout the past weekend, with the current decline being 0.29% and the movement over the past week only 0.03%. But the activities during this period suggest that the market may be in a phase of preparing for a major price increase, as investors accumulate assets for long-term benefits, according to the analysis of TinTucBitcoin. Investors appear to be cautious with their holdings, not wanting to trade more Bit unless the market shows more positive signs. This is evidenced by the Binary Coin Days Destroyed (CDD) index on CryptoQuant. This index assigns a value of 1 when long-term holders sell significantly and 0 when there is little or no activity from this group. At the time of writing, the Binary CDD index has a value of 0, indicating that investors are likely to hold their assets for the long term rather than sell at the current price. TinTucBitcoin observes that this market activity is reflected on the chart as an accumulation phase with the potential for a significant price increase. ## US Investors May Push Bit to $99,500 At the time of writing, Bit is trading in an accumulation zone, moving back and forth within a converging support and resistance channel called an ascending channel. Currently, Bit is at the support level of this channel, a level that has provided the basis for major price increases in the past. If this level is maintained and acts as a catalyst, Bit could witness a 15% increase to around $99,500. For this to happen, the upward momentum needs to be maintained and strong enough to break through the resistance of the pattern. If Bit breaks above this resistance level, it has the potential to move further. Conversely, if it fails to break out, Bit will continue to trade within the current range. As investors await the next move of Bit with anticipation, the current sentiment can be accurately described as the calm before the storm. Therefore, monitoring the dynamics of the broader market is a wise decision. Nevertheless, as always, it is best for you to conduct thorough research (DYOR) and prepare for the next moves of the king of cryptocurrencies.