Bitcoin has finally swept the sell-side liquidity that had been building beneath the market, driving price into a deep demand zone where stronger buyers are expected to step in. With the downside move now largely complete, attention shifts to whether this level can spark a meaningful reaction or mark the start of a broader reset. Why The 100-Week SMA Remains A Proven Bitcoin Accumulation Zone Crypto analyst Brett emphasized that accumulating Bitcoin below the 100-week Simple Moving Average has repeatedly proven to be one of the most reliable long-term investment strategies. According to the expert, this zone has historically marked periods of maximum pessimism, where risk-to-reward strongly favors patient buyers rather than short-term traders. Related Reading: Bitcoin Drop Below $80,000 May Not Be The Final Capitulation Event, Checkonchain Says Brett explained that his personal approach deliberately avoids trying to pinpoint the exact market bottom. Instead, he focuses on steady accumulation by placing buy orders across a wide range between $55,000 and $75,000, supported by daily recurring purchases. For investors with a more conservative mindset, Brett pointed out that waiting for confirmation can be just as effective. Looking at past cycles, Brett noted that buying after Bitcoin moves back above the 100-week SMA has consistently delivered strong returns. He stressed that BTC has never fallen below the previous cycle’s 100-week SMA, reinforcing its importance as a structural support level. Those who followed this strategy in prior market cycles are now sitting on significant long-term profits. Breakdown Confirmed As Key Lows Failed To Hold According to the latest BTC Heatmap update by Columbus, the market has followed the exact trajectory previously mapped out. Columbus notes that the inability of the local lows to hold, combined with weak reactions on the tape, signaled that the liquidity stacked below would act as a magnet. Consequently, the continuation leg played out as an inevitable result of this structural weakness. Related Reading: Is The Bitcoin Bottom In? CMT Reveals What Investors Need To See Now In his analysis of the current price action, Columbus highlights that Bitcoin is now trading directly within a cluster of heavier bids located around the low-$70,000 region. The analyst identifies this specific zone as the first area where a “real reaction” is likely to occur, as it represents a significant concentration of buy-side interest. For Columbus, the sweep into these deeper pockets was the necessary clearing event to reach this primary demand zone. Columbus concludes that since the anticipated downside has fully played out, the focus now shifts entirely to the immediate response from buyers. With the liquidity targets hit and the price sitting on heavy support, Columbus is now closely watching for a definitive reaction to determine if this level will provide the foundation for the next leg of the trend. Featured image from Freepik, chart from Tradingview.com
Explore BRETT memecoin’s unique appeal with its strong community, fast Base blockchain and token-burning model for long-term growth.
As the overall sentiment in the crypto market veers towards bullishness, leading cryptos have regained their previously lost levels and ignited further interest in meme coins. Brett (BRETT) has emerged as the standout performer, experiencing a 400% gain in the past 30 days alone. Having launched just three months ago, BRETT now boasts a market cap of $1.7 billion, positioning itself as the top gainer in the top 100 spot of the market. The Largest Meme Coin On The Base Network BRETT is a meme coin built on the Base network, with its mascot inspired by a character in Matt Furie’s Boys’ Club comic. Since its launch in February 2024, BRETT has become the largest meme coin on the Base network in terms of market cap, earning the title of “PEPE’s best friend on BASE.” Notably, BRETT stands out due to its renounced contract and absence of a minting function, which places the token’s trajectory fully in the hands of its community. The creator of BRETT cannot generate additional tokens or manipulate the contract, relying instead on the vibrant and dedicated community to drive its development. Related Reading: Bitcoin On The Verge As Global Liquidity Nears New $100 Million ATH With a fixed total supply of 10 billion tokens, BRETT’s scarcity and potential future value are influenced by the limited creation of new tokens. The coin follows a fair launch model, ensuring equal opportunities for all participants. BRETT does not impose transaction taxes, which can incentivize trading activity but may impact long-term value. Regarding distribution, 85% of the tokens are allocated to the Liquidity Provider (locked), 10% to the Treasury, and 5% to the Centralized exchange wallet. BRETT Surges 21,000% From All-Time Low As of now, BRETT is trading at $0.1794. It maintains its position as the top meme coin on the BASE network while also being the market’s best performer, experiencing a 33% surge in the last 24 hours. CoinGecko data reveals a staggering 21,000% increase from its all-time low, highlighting the immense surge in interest the token has garnered in recent months. Furthermore, BRETT’s trading volume has increased significantly, rising by 62% in the past few days to reach $219 million. Notably, BRETT is the first meme coin on the Base network to surpass a $1 billion market cap. Related Reading: Injective (INJ) Price Set To Skyrocket 33% On Classic Bullish Signal: Crypto Analyst While BRETT’s current uptrend is notable, it remains to be seen whether the token can sustain its momentum and climb to higher positions in the market. If so, it could potentially surpass other meme coins like Bonk Inu (BONK) in terms of market cap, with the difference between the two being a mere $200 million. At its all-time high (ATH), BRETT reached $0.1887, which might serve as a near-term resistance level for the token, as it has struggled to surpass this mark in the past two days. Featured image from DALL-E, chart from TradingView.com