#加密行情震荡 Bottom Not Yet Formed: Bitcoin Hovering Around $70,000 as Three New Signals Emerge
From the short-term chart perspective, Bitcoin is forming a technical pattern similar to March 6-8, when prices rebounded after a pullback. If $70,000 is quickly reclaimed, it could open a move toward $76,000, with a key turning point at $72,000. If it breaks below $68,300, it could test $65,000 to $62,000. BTC may break below $60,000.
From last October's all-time high of $126,000 to the current oscillation around $70,000, BTC's price has resembled a roller coaster ride over just a few months.
Three New Signals📶
1. MVRV Z-Score, collective shift in value anchoring system 2. Ahr999 Index (9 God Index), accumulation zone below 0.45 has persisted for nearly 50 days 3. SOPR, STH-SOPR continues below 1, LTH-SOPR continuously at 0.75-1 4. BTC Mayer Multiple, below 0.8 has persisted for nearly 50 days. However, compared to accumulation indicators, top-calling indicators in the crypto industry may be more flexible.
Analysts suggest that Bitcoin may be replaying the 2022 bottom pattern. According to NS3 reports, the bottom zone may start from July, lasting approximately two months, triggering a rally in September.
#加密行情震荡 Bottom Not Yet Formed: Bitcoin Hovering Around $70,000 as Three New Signals Emerge
From the short-term chart perspective, Bitcoin is forming a technical pattern similar to March 6-8, when prices rebounded after a pullback. If $70,000 is quickly reclaimed, it could open a move toward $76,000, with a key turning point at $72,000. If it breaks below $68,300, it could test $65,000 to $62,000. BTC may break below $60,000.
From last October's all-time high of $126,000 to the current oscillation around $70,000, BTC's price has resembled a roller coaster ride over just a few months.
Three New Signals📶
1. MVRV Z-Score, collective shift in value anchoring system
2. Ahr999 Index (9 God Index), accumulation zone below 0.45 has persisted for nearly 50 days
3. SOPR, STH-SOPR continues below 1, LTH-SOPR continuously at 0.75-1
4. BTC Mayer Multiple, below 0.8 has persisted for nearly 50 days. However, compared to accumulation indicators, top-calling indicators in the crypto industry may be more flexible.
Analysts suggest that Bitcoin may be replaying the 2022 bottom pattern. According to NS3 reports, the bottom zone may start from July, lasting approximately two months, triggering a rally in September.