Bitcoin’s open attention was shattered at the lowest level for 6 months, and here’s what followed the last time

Encryption Credibull Crypto It revealed that Bitcoin’s open interest has been shattered to the lowest level in six months. The analyst also explained what happened the last time that this low open interest occurred while providing an upward view of the pioneering encryption.

Bitcoin’s open interest is 6 months in the lowest minimum

in X postCREDIBLL CRYPTO revealed that the open interest of Bitcoin is at the lowest levels that were in six months. He pointed out that the price of BTC was trading between $ 50,000 and $ 60,000 the last time that the open interest was low. The analyst also revealed that the Bitcoin financing rate was negative. He also pointed out that the same thing happened while the main encryption was trading between $ 50,000 and 60,000 dollars before that before that Ruling to $ 100,000.

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Interestingly, Credbull Crypto stressed that these scales are generally “wonderful” for Bitcoin and enhanced his belief that the main encryption has formed a bottom. In fact, it seems that the BTC has formed a bottom as the main encryption has recovered to $ 95,000 after it decreases Less than 80,000 dollars last week.

Encryption Ali Martinez He also suggested that the price of bitcoin had found below. In the X Publication, he indicated that from a historical point of view, BTC tends to apostasy when the daily relativity index decreases to less than 30 years. He then revealed that RSI was sitting at the age of 24, indicating that the main encryption had reached below and was due to apostasy.

BTC needs to stick to this range to confirm the reflection

However, despite Bitcoin’s recovery up to $ 95,000, Credbull Crypto suggested that market participants should not be very excited yet. He stated that the pump does not mean much unless BTC wipes The main resistance at about $ 93,000. The analyst noted that the transition to this range was the easy part, but “strength” exceeded it.

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Encryption Titan from encryption He also chanted similar feelings. He stated that Bitcoin is currently paying $ 94,000, breaking the Como cloud. The analyst added that the main encryption needs to remain above this price level before confirming the reflection.

However, Titan of Crypto still provides an upward view of the Bitcoin price, indicating that reintegration may be about to happen, which can send the main encryption to the coding stage. The accompanying plan showed that BTC can gather Above 126,000 dollars because it enters this coding phase.

Meanwhile, Martinez revealed that the Bitcoin Bull race is still intact according to the ASORP index. He also stated that global liquidity rises again, and as BTC behind this scale, the analyst noted that this could indicate a unique opportunity.

At the time of writing this report, the Bitcoin price is traded by about 91,000 dollars, an increase of more than 6 % in the past 24 hours, according to what it said. Data From Coinmarketcap.

Distinctive image from Istock, Chart from TradingView.com