Bitcoin (BTC) is about to outbreaks because the valley sole is reached: co -founder of Glassnode

Bitcoin (BTC) is about to outbreaks because the valley sole is reached: co -founder of Glassnode

The "bad mood" around Bitcoin dominated the trend for several weeks, since the price was largely under the $ 28,000 mark.

recent data show that the world's largest crypto asset is optimistic, which indicates that it may be about to be bumped.

The Bitcoin depth point has been reached

The close consolidation of Bitcoin could finally end. Glassnode co-founder Negentropic, for example, believes that the low point for the crypto-asset is close and that it is only a matter of time before the price "sinks".

According to his analysis, the shorts are exhausted after numerous attempts to break under 200 SMA have failed, a level that he sees as "solid support". With the interest bully crossover of the 50SMA over the 200SMA, Bitcoin will soon be expected to turn history in his favor.

#bitcoin inside

The shorts are exhausted after numerous attempts have failed to break under 200 SMA, which represents solid support.

50SMA Bullischer Crossover over 200sma, it is a question of the time #btc goes from https://t.co/pfyjsmcgye pic.twitter.com/zmkvqiqwyz

-(@negentropic_) 22. May 2023

The development takes place only a few days after the analysis company found that the conviction of the existing Bitcoin owners was still "remarkably high", although the market has experienced extreme volatility and enormous debt breakdown in the past two years.

Santiment also .