đ **Bitcoin Bounces Back: Is a Bull Run on the Horizon?** đ
Bitcoin enthusiasts, hold onto your hats! Despite recent market jitters due to Middle Eastern conflicts, BTC is showing signs of resilience. đ After dipping below the $64K mark and the 200-day moving average, Bitcoin found strong support at $60K, bouncing back towards the 200 DMA.
đ **Technical Analysis**: The daily chart indicates a potential bottom at $60K, with the RSI showing oversold conditions. If BTC breaks above $64K, we could see a bullish surge. However, a rejection might push prices down to $56K or even $52K.
đ **On-Chain Analysis**: The Net Realized Profit and Loss (NRPL) metric suggests BTC could be gearing up for a new bullish run. Despite the consolidation, NRPL levels hint at a potential upward move, reminiscent of the early bull market days.
Stay tuned, Bitcoiners! The next few weeks could be pivotal. đ
