Hello Traders
As you can see in the chart above, Bitcoin is currently in a resistance zone which can cause capitulation.
I Screenshotted a metric from Glassnode called addresses with a supply of more than 1K, Which decreased drastically in the previous bitcoin bullish movement; this alone can confirm the technical scenario.
On the network data side, I saw most of the bitcoins that moved in the last day were mostly in profits—another risk to the price.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
As you can see in the chart above, Bitcoin is currently in a resistance zone which can cause capitulation.
I Screenshotted a metric from Glassnode called addresses with a supply of more than 1K, Which decreased drastically in the previous bitcoin bullish movement; this alone can confirm the technical scenario.
On the network data side, I saw most of the bitcoins that moved in the last day were mostly in profits—another risk to the price.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
------------------------------------------------------------------------
What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
