Hello Traders,
As you know, Bitcoin has rallied in the past few days, but it did not get corrected ever since.
Technically on the Logartmic chart, bitcoin has broken out of its bearish trendline. I expect the price to test its previous levels to get more liquidity to continue its bullish movement.
On the Onchain side, Long term holders moved their bitcoin in more than nine times in profit, which is a severe risk to the price. On the other metric I screenshotted from Glassnode, you can see that at the top of the price (today), Wallets moved their bitcoin in profit with a value of more than 60 million dollars. These two scenarios can confirm that a correction or a pullback is coming for the price.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
As you know, Bitcoin has rallied in the past few days, but it did not get corrected ever since.
Technically on the Logartmic chart, bitcoin has broken out of its bearish trendline. I expect the price to test its previous levels to get more liquidity to continue its bullish movement.
On the Onchain side, Long term holders moved their bitcoin in more than nine times in profit, which is a severe risk to the price. On the other metric I screenshotted from Glassnode, you can see that at the top of the price (today), Wallets moved their bitcoin in profit with a value of more than 60 million dollars. These two scenarios can confirm that a correction or a pullback is coming for the price.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
------------------------------------------------------------------------
What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
