Will #bitcoin bounce at $37.2K (bull market support band)? | Lab4crypto en Binance Square

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Will #bitcoin  bounce at $37.2K (bull market support band)?

Yes

67%

No, it’s going lower.

33%

3 votos • Votación cerrada

Aviso legal: Se incluyen opiniones de terceros. Esto no respresenta una asesoría financiera. Puede haber contenido patrocinado. Lee los TyC.

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Bitcoin's recent rally has slashed its supply in loss from 26.2% on July 7 to just 9.4% now. With 90.6% of the supply in profit and Bitcoin holding above the 20-week SMA ($60.5K), this value is expected to rise further, accompanied by some selling pressure from profit realizations.

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#Bitcoin has surpassed its FOMO level after staying below it since July 3rd! Historically, this could mean a 200-400% price surge in the coming months. Therefore, holding this level ($60.8K) is crucial as we head into November (US elections) and Q4 in general

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The market is in fear levels, which were last seen on Dec 14, 2022, when #Bitcoin was $17.8K. Despite negative news like Mt. Gox repayment, Germany selling Bitcoin, and miners capitulating, BTC is above $57K. Is the summer bottom in, or will we keep sliding? Share your thoughts👇

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📊 Bitcoin Supply in Profit stands at 80.6%. The last time we hit this level was Oct 19th, 2023. when BTC was $28.69K. With addresses in profit declining, so is the selling pressure.

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