#加密行情震荡 Bottom Not Yet Formed: Bitcoin Hovering Around $70,000 as Three New Signals Emerge
From the short-term chart perspective, Bitcoin is forming a similar technical pattern to March 6-8, when prices rebounded after a pullback. If it quickly recovers $70,000, it could trigger a move toward $76,000, with the key turning point at $72,000. If it breaks below $68,300, it could potentially test $65,000 to $62,000. BTC may break below 60k.
From the all-time high of $126,000 in October last year to the current oscillation around $70,000, BTC's price has been like riding a roller coaster in just a few months.
Three New Signals📶
1. MVRV Z-Score: Collective shift in value anchoring system 2. Ahr999 Index (9 God Index): Bottom-fishing zone below 0.45 has persisted for nearly 50 days 3. SOPR: STH-SOPR continuously below 1, LTH-SOPR continuously between 0.75-1. BTC Mayer Multiple: Below 0.8 has persisted for nearly 50 days. However, compared to bottom-fishing indicators, the cryptocurrency industry's top-selling indicators may be more flexible.
Analysts suggest that Bitcoin may be replaying the bottom pattern from 2022. According to NS3 reporting, the bottom zone may start in July, lasting approximately two months, and trigger a rally in September.
#加密行情震荡 Bottom Not Yet Formed: Bitcoin Hovering Around $70,000 as Three New Signals Emerge
From the short-term chart perspective, Bitcoin is forming a similar technical pattern to March 6-8, when prices rebounded after a pullback. If it quickly recovers $70,000, it could trigger a move toward $76,000, with the key turning point at $72,000. If it breaks below $68,300, it could potentially test $65,000 to $62,000. BTC may break below 60k.
From the all-time high of $126,000 in October last year to the current oscillation around $70,000, BTC's price has been like riding a roller coaster in just a few months.
Three New Signals📶
1. MVRV Z-Score: Collective shift in value anchoring system
2. Ahr999 Index (9 God Index): Bottom-fishing zone below 0.45 has persisted for nearly 50 days
3. SOPR: STH-SOPR continuously below 1, LTH-SOPR continuously between 0.75-1. BTC Mayer Multiple: Below 0.8 has persisted for nearly 50 days. However, compared to bottom-fishing indicators, the cryptocurrency industry's top-selling indicators may be more flexible.
Analysts suggest that Bitcoin may be replaying the bottom pattern from 2022. According to NS3 reporting, the bottom zone may start in July, lasting approximately two months, and trigger a rally in September.