Bitcoin, after reaching an all-time high above $109,000, is now trading below the $100,000 mark, a significant 11.4% drop. Percival of CryptoQuant highlights a potential market shift as Bitcoin trades within a tight range.
The Choppiness Index indicates instability, suggesting impending volatility. Percival identifies key support levels if prices decline further: the $92,000 Short Term Holders Cost Base and the $80,000-$89,000 range, aligning with the 200-day EMA.
The Spent Output Profit Ratio hovers below 1, indicating near-equilibrium. Similar patterns in August 2023 led to major market moves. Ali, a renowned analyst, forecasts a rebound based on the TD Sequential indicator flashing a buy signal.
Fonte: www.newsbtc.com ↗