Is Bitcoin’s Rally Overstretched? This Key Indicator Says No
Bitcoin has plenty of room to rally, according to a fundamental analysis indicator that flagged the price bottom in March.
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A Bitcoin trend indicator whose last appearance in 2017 had sent the prices 10 times higher appeared again this Wednesday morning. Dubbed as “Bitcoin MVRV Z-Score,” the indicator is nothing but a ratio of the difference between the cryptocurrency’s actual and realized market capitalization. Glassnode, the blockchain analysis platform that created the said metric, sees the score below zero as a sign of an undervalued Bitcoin. Meanwhile, anything above 7 indicates a market top—an overbought […]
Bitcoin has undergone a strong rally over the past two weeks. An analyst noted that one of their custom indicators formed a “buy” for the third time in the past few months. This indicator is important as it has predicted critical retracements and rallies. Bitcoin Printed a Macro Buy Signal Bitcoin has undergone a strong rally over the past two weeks. But technical trends show that the coin could surge even further in the weeks […]
Bitcoin’s price has entered a consolidation phase as it trades between $10,600 and $10,800 The cryptocurrency’s strong uptrend in recent days stalled as soon as it approached $11,000, as the selling pressure at this level has proven to be quite significant Analysts are now conflicted on where it may trend next, as it all depends on whether $11,000 proves to be a surmountable level One analytics firm is now noting that there is one indicator […]
Bitcoin has been in a strong rally since the March lows. The coin moved from $3,500 at those lows to around $12,500 at the local highs. Unfortunately for bulls, a crucial sell signal is on the verge of appearing that may mark a medium-term top for Bitcoin. The indicator last formed just prior to the March capitulation crash. Bitcoin Could Soon Undergo Retracement: Trend Indicator Shows Bitcoin has undergone a strong rally since the March […]
Amid Bitcoin’s current gradual recovery in price, attention has been drawn towards the asset as it prepares to be on the verge of closing its seventh consecutive monthly candle above the all-time high (ATH) of 2021. Renowned crypto analyst Moustache recently took to X to highlight this key milestone, emphasizing the importance of higher timeframes in trading. According to Moustache, the fact that Bitcoin is holding above its previous ATH every month is a strong indicator of support, which could signal continued upward momentum shortly. Related Reading: Top Economist Predicts Bitcoin....