Bitcoin recently Pumped From 52k to 64k in just 2 Days. Last Few Days We witnessed only Green Candles in Bitcoin. But, Many people are calling out for a big correction like 40k - 35k. Many Crypto Twitter Expert and Articles are being written "How Bitcoin Will Eventually Dumped Below 40k or Less". Let's Find out How Realistic the claims Are
1. Extreme Greed In Market
When Bitcoin Broke the psychological 50K Level it was only Extreme Greed to be enter in the market. Latest Index Shows 82 which indicates Extreme Greed. Many indicators are showing most of the coins including BTC are Overbought and Buying pressure are building more and more. And People Being Cautious about it.
2. MVRV Ratio
MVRV stands for Market Value to Realized Value. It's the ratio between an asset's current price and its realized price. MVRV is calculated by dividing an asset's market capitalization by its realized capitalization
MVRV Ratio is a great data point to find Bitcoins correction and Top. MVRV ratio confirmed Bitcoin bottom when it hit sub 0.70 and now it's blowing to 2.50 which is a bullish momentum. The historical projection showed that Bitcoin likely reach its top when MVRV ratio Hit more than 3.
3. S/R Area
Before Believing in any statement it's better to double check the claims and with facts. Bitcoin clearly broke out from 54K Area and now it's 64k. Next ATH is just 13% Away. And the next Big support is 15% Away.
If Bitcoin Dumped 20% From here (which itself a big dump) Bitcoin will still hovering around 48k-49k. We belive a correction can be occured anytime given retail still not entered the market and money flowing into Memecoins which are the last liquidity.
4. Bitcoin Dream Run
With the #Bitcoin spot price reaching the $57,000 level, we note only 82 / 4972 (1.65%) trading days have recorded a higher daily closing price.
🔆 What Should You Do?
USDT.D continues its bearish move after the breakdown of the symmetrical triangle. Currently, it has successfully broken down the MA 200. MACD crossover indicates bearish momentum.
A continuation of the downward move is expected, and it's important to note that it works inversely proportional to the crypto market. Which is Good For Altcoins.
Just Rotate Your Profits, Invest in your Winners, Keep Adding in your Long-term Position. And Chill 😎. Bitcoin Obviously Dump From Here or From 66K - 65k Area We Need to Careful ⚠️
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