Doubts about having entered the accumulation zone are beginning to be dispelled

Hello dear readers, at the time of writing these lines the price action of the main cryptocurrencies by market capitalization were in green, with recovery percentages of over 10% for Bitcoin, 9% ETH and 6% for Hive, which somehow confirms that we have entered a potential sideways and accumulation channel.

And the hypothesis of having entered a potential sideways and accumulation channel is beginning to gain strength after the release of the new economic data that surprised from Washington.

The economic data recently socialized from Washington, printed within the cryptocurrency market a kind of optimism among investors and bullish traders, as they are extremely positive and are undoubtedly the main reason that could drive favorable scenarios for the recovery of risk assets.

In the case of Bitcoin at the time of writing these lines is located at $24,555.09, Ethereum at $1,1667.51 and Hive above 0.45 cents, these price rallies renews the strength that the cryptocurrency market has.

Before closing I must emphasize that this extraordinary performance shown by the cryptocurrency market is supported by the positive elements found by the FED in the recent US economic data.

Cointelegraph Bitcoin price eyes $23K despite US dollar strength hitting 6-week high. Link

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