According to the #Bitcoin: Advanced NVT Signal chart, an OnChain indicator I follow, we are watching close to areas where we can find support again on the Bitcoin side and see upward movements.
Let's go into a little more detail
Spot purchases on the $BTC side are still weak and sales are more dominant. In order for the pressure on the#cryptocurrencymarket to be lifted, we first need to see a recovery on this side.
If spot purchases do not recover, it may want to move towards the nearest long liquidation levels and regain strength;
Long Liquidation Levels
61614
60921
60389
CONCLUSION
As I said, we are in areas where I will find support according to our Bitcoin: Advanced NVT Signal chart. If spot purchases do not recover, they may hit the mentioned liquidation levels and want to gather strength for a comeback.
Via: CryptoPNZ
