Bitcoin Momentum Indicator: Why 600,000 Transactions Threshold Matters Most
As Bitcoin (BTC) continues to trade in the low $110,000 range, a key on-chain indicator has flipped bullish, show signs of an upcoming price rally that could propel the top digital asset to new all-time highs (ATH) in the near term. Bitcoin’s 600,000 Transactions Threshold Takes Center Stage According to a CryptoQuant Quicktake post by contributor Ibrahim Cosar, an important correlation between BTC price and the total number of transactions over time stands out. Related Reading: Bitcoin Cycle Confluence Hints No Bottom Before October – What This Means The analyst shared the following....
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Bitcoin price is back in the mid-$50,000 range, after several rejections from resistance at above $60,000 per coin. A visit to support levels to test demand much lower might soon become a reality now that a technical indicator measuring momentum has flipped bearish for the first time since 2020. Here’s what this could mean for the leading cryptocurrency by market cap’s current bull run. Bitcoin Momentum Turns Bearish For First Time Since Late 2020 When […]
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Bitcoin Technical Analysis reveals that the uptrend is about to reverse from current levels. An exuberant breakout has fizzled out and lost critical momentum. Last week's article warned of a bull trap in the making. If the ensuing downturn is merely a correction, advance may return with a vengeance, but if large market players again fail to participate, matters look different. Takeaway. Traders and investors should brace themselves for a strong price reversal. The advance is losing momentum. Indicators signal overbought conditions and declining volume speaks of a lack of wider....
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