đ Could Bitcoin's Golden Cross Signal a Major Price Breakout?
Bitcoin is showing some promising signs for a potential rally! Here are the key factors you should know:
đ Key Points:
The Puell Multiple has dropped below 0.4, often signaling a market bottom. With decreased miner selling pressure, we might be looking at a possible price recovery.
A Golden Cross has formed on the 2-month chart, where the 50-period moving average has crossed above the 200-period, hinting at a bullish trend.
Bollinger Bands are tightening, signaling a potential breakout, and the RSI stands at 51.05, leaving room for upward momentum.
đ Miners and Market Dynamics:
Miners are earning less but holding onto their coins, which means less selling pressure in the market.
Increased on-chain activity (0.93% rise in active addresses) suggests growing engagement.
đ Whatâs Next? With key technical indicators aligning, Bitcoin could be on the verge of a breakout. Keep an eye on these trendsâthis might be the signal investors have been waiting for!
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