Is Bitcoin preparing for a sharp rise to $65,000?
Bitcoin prices have fallen recently following news of the conflict in the Middle East. Fortunately, the market seems to have stabilized.
Looking at the daily chart, the price previously fell below the $64,000 mark and crossed the 200-day moving average. However, the $60,000 support level is quite strong, pulling Bitcoin back to the vicinity of the 200-day moving average.
If the market cannot gain a foothold at the 200-day moving average, it may continue to fall, possibly to $56,000 or even $52,000.
Looking at the 4-hour chart again, the market structure clearly shows bearish signs, and it has previously broken through the bullish trend line.
Fortunately, the $60,000 price level seems to have become a bottom, and the RSI also shows oversold. Now, it depends on whether the price can break through $64,000. If not, it may fall again.
Talk about Bitcoin's net realized profit and loss
This indicator can help us see whether investors have made money or lost money. If they have made money, the value is positive, and if they have lost money, it is negative.
Although the market is still fluctuating in a range and there has been no major crash, NRPL has fallen to the level when the price was around $30,000 last time, when the bull market had just started.
So, if other conditions remain unchanged, we can guess whether Bitcoin is quietly accumulating power and preparing for a new round of bull market in the next few months? #非农人数大幅升温 #HBO纪录片或揭示中本聪身份
Recently, I plan to ambush a potential coin that is ready to explode. It is still very easy to double it. At the same time, I am also preparing to find some potential coins to hold by the end of the year. It is no problem to expect more than 10 times the space. If you want to keep up, leave a message, follow, like, and share for free.
