Bitcoin price analysis: Caution-is the BTC outbreak at all-time highs confirmed?
Bitcoin price analysis: Caution-is the BTC outbreak at all-time highs confirmed?
Bitcoin managed to achieve a daily closure above the previous all -time high of USD 66,000. This is an early zinsbullic signal, but it is not enough to fully confirm the outbreak.
We have to see several daily and weekly closures of over 64.8,000 USD. This would provide confirmation and further validation. In the short term, we can expect several repetition tests of $ 64.8,000 as a level of support.
Short-term caution at the BTC Prize
Even if the course closed above the previous all -time high - it could be too early to celebrate. The open interest has risen sharply lately, while the financing rates have also increased significantly at Binance. The estimated leverage ratio is back at the highest levels of April and September at 0.18.
The refinancing rate is no longer as high as in March and April, but the increased open interest and the estimated leverage ratio demand short -term caution.
The important levels of support that should be considered in the event of short -term pullback includes $ 64.8,000, USD 63,000, $ 61.8,000, USD 61.3,000 and $ 60,000. This includes greater support at 59.6 000, 58.3,000, 57.5,000, 57.2,000 and in the case of a larger liquidation event at $ 53,000.
The 21-dayaema is currently 57.5K-an important value that needs to be considered. In the event that BTC continues its upward trend, $ 69.2,000 and $ 71.8,000 are the goals to be taken into account.
What do Bitcoin Auf-Chain do indicators?
The cassinese reserves have tended down since BTC created a new ATH, which is a positive signal. They are currently at 1,150 million BTC - a multi -year low.
There is a light distribution of older cohorts, but there is still no trend towards a serious distribution. Some younger coins take a profit. This is a positive signal because we have just seen the price a new all-time high make .
In 2013 we saw a trend towards a serious distribution before BTC climbed over the first high. Then this trend continued with rising prices. In 2017 we saw no distribution until the ATH was painted.
The Means Coin The age index has been easy, but still stays close to the all -time high. It is important to watch this indicator carefully to see if there is a trend towards distribution formation. Several consecutive days have to be tended downwards - with lower highs and lower lows to derive that a trend forms.
Finally
With all hype, it is important to stay careful at short notice. The reasons for this are the increasing open interest, the increased refinancing sentences and the high estimated leverage ratio. However, the medium to long-term prospects for Bitcoin remain optimistic.
It is too early to confirm the outbreak, but the bullish back test that took place hours ago is an early positive signal. As a first step towards more upward trend, we have to see a fixed weekly closure of over 64.8,000
In the meantime, the dollar remains under an important resistance at 94.47, whereby the trend of money flow from long -term bonds is gaining drive. This indicates that the money flows back to stocks and possibly also in BTC..
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