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BONK is preparing for new highs. $BONK price has increased by 74.63% in the last 7 days and is now challenging the $4 billion market cap target. This momentum in the popular memecoin is supported by the RSI (Relative Strength Index) indicator, which is at 62.95. Other important indicators, the Ichimoku Cloud and EMA lines, also confirm a strong uptrend. If this positive momentum in BONK continues, the price could test $0.00006 and renew ATH. However, in a downward movement, it could pull back to $0.000033 and $0.000021. BONK’s RSI value is currently at 62.95 and was above 70 when it reached new highs a few days ago. This decline indicates a brief pause in momentum, but the current upward trend continues. The Relative Strength Index (RSI) tracks price momentum, with values above 70 indicating overbought, and values below 30 indicating oversold. The RSI at 62.95 shows that BONK is still in bullish territory, but there is room for growth before it reaches overbought levels. The current RSI level suggests that BONK may target higher levels. Elements such as the continuation of the memecoin trend, the increase in BTC price, or the decline in BTC dominance will support the BONK rise. In such a scenario, the $0.000075 level can be followed as resistance. Weekly closes above this level can strengthen the momentum and carry the price to $0.00010. In terms of market value, the $5 billion level can be considered a sales zone. The Wolf of Main Street, known for its cryptocurrency analysis, attracted attention with the #BONK chart. According to the analyst, if the parity is strong, it should continue its rise without a retracement. The Wolf of Main Street, who stated that although buying BONK at the current price is risky, the reward can be great, thinks BONK is a strong pair. The main area that the analyst sees as suitable for buying is the blue box.
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Bitcoin (BTC) sees $3 billion sell-off: Is it a bearish signal? According to Onchain data, Bitcoin ($BTC ) long-term investors (LTH) have seen a significant change in their activity. LTHs are generally defined as investors who have held their coins for more than 155 days. According to Glassnode data, Bitcoin’s “Hodler Net Position Change” fell to a five-month low on Tuesday. The metric in question reflects the overall buying and selling activity of long-term Bitcoin investors. This decline shows that the group sold over $3 billion worth of BTC that day. The sales on November 18 were the highest amount recorded since June 26. According to Santiment data, Bitcoin’s market value-to-realized value ratio (MVRV) indicates that the pair may be overvalued. BTC’s current MVRV ratio is at 182.06 percent. This ratio shows that Bitcoin’s current market value is significantly higher than its realized value. If all #Bitcoin holders sell, they will make an average profit of 182.06 percent. In recent weeks, Bitcoin trading has been largely profitable. As of November 20, the profit-loss ratio in BTC’s daily trading volume (as assessed using the 30-day moving average) is at 2.01. This means that for every BTC transaction that results in a loss, 2.01 transactions result in a profit. If long-term investors continue to sell, the Bitcoin price could fall to support levels below $90,000. According to the Fibonacci indicator, the next critical support level is at $83,983. However, if the selling pressure decreases and positive news flow continues, Bitcoin could see new highs.
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Follow these indicators: When will the Bitcoin bull run end? Question marks have emerged regarding when the bullish cycle of Bitcoin (BTC), which has been running from record to record, will end. The leading crypto Bitcoin continues to rise under the influence of Donald Trump and spot $BTC ETFs traded in the US. #BTC gained momentum with Trump's media company's purchase of the crypto exchange Bakkt. The BTC price broke the record by reaching $93,905 the other day. While the bull cycle continues in the crypto market, where new investors are joining every day, investors have begun to wonder when a potential decline will come. On-chain data platform CryptoQuant has shared five indicators that should be followed to understand whether the BTC price has peaked (the end of the bullish cycle). It is useful to remember that the metrics in question will not provide definitive results and that the metrics should not be used as a single indicator. MVRV Ratio The MVRV Ratio, calculated by dividing Bitcoin's market value by the realized value (cost), has become one of the metrics that should be followed to understand whether the bullish cycle will end. CryptoQuant emphasized that if the MVRV Ratio is above 3.7, the BTC price will reach the highest level it can reach and that point will be the end of the cycle. The data shows that the MVRV Ratio is at 2.67 levels. In February 2021, when Bitcoin reached a historical peak of $ 60,000, the MVRV Ratio rose to 7 levels. Fear and Greed Index According to CryptoQuant's report, the next indicator to be followed is the Fear and Greed Index, which measures market sentiment. CryptoQuant said that when the index score reaches 80 out of 100, BTC will reach the end of its bullish cycle. The report emphasized that the index in question would not mean anything on its own. The index has been moving above 80 percent since November 12. The Fear and Greed Index, which reached 90 levels on November 19, reached its highest level since February 2021. New money inflows
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