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After months of difficult momentum that paid bitcoin to The highest level ever for more than 109,000 dollars Earlier this year, analysts are now discussing whether this increase was distinguished from the highest official market. Promoting this argument, the meeting of technical indicators indicates that the market cycle may have already reached its peak – especially behavior The market value of a real value (MVRV) Z-SCORE This opinion is strengthened.
MVRV Z-ScoRE shows the price of bitcoin
new Technical analysis By the encryption analyst, Tony Severino, which combines MVRV Z-SCORE and the monthly relativity index (RSI), which is a flashing warning signs The highest bitcoin market may be already.
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Looking at the logarithm price scheme, Bitcoin’s MVRV Z-Scoure broke from Bitcoin less than a support line in the upper direction. This style is important, as the degree of Z has always respected the bullish trend support lines during the bull markets, with similar rest periods only after Bitcoin reaches the top of the official market.
It is worth noting that this is not the first time that Bitcoin has offered such behavior. A similar support line has occurred before its peak on the BTC market during 2017 and 2021 bull courses. The declining argument that Bitcoin may already have I reached the peak price It is more reinforced by the visual relationship between the monthly RSI of Z and Bitcoin, which is shown by a black line on the graph.
In previous sessions, Bitcoin’s RSI Less than 70 times decreased, indicating a momentum that fades and poor prices. Historically, such movements occur below 70 after a short period of prices, not before.
The most persuasive, the moving average based on the Relative Power Index (MA), which is highlighted by the orange line on the graph, is now wandering down. This accurate but only strong sign appeared in previous sessions after the market has already been on the top of the market, and it is a confirmation instead of predicting.
Combated, these technical indicators and historical trends strongly indicate that the $ 109,000 bitcoin peak may have been characterized by this market tour. Watching with post -market post -Taurus behavior, Bitcoin can now be about to enter The long bear market. These declining expectations are strengthened through modern sharp prices corrections, the investor’s confidence reduces, and a clear transformation in the market morale towards the market Caution and uncertainty.
Bulls try to reversal of the bitcoin air view
In the last of his latest analysis of Bitcoin, Severino open The bulls seem to pay for Price recovery. The analyst admitted that his previously dominant dominant narration from Bitcoin may soon see a major shift if the bulls can maintain momentum in the monthly closure in April.
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According to the graphic graphic, Bitcoin now tests a major area of attention while simultaneously shows early ascending signs to reverse the long -term landmark Macd medium rapprochement divergence (MACD). In addition to conspiracies, a possible composition of a The morning star candlestick It enhances the possibility of a bullish reflection of Bitcoin.
It is worth noting that the similar plans settings occurred in 2022 and mid -2013, both of which represented major turning points for Bitcoin expectations in the long term. If the cryptocurrency is able to close April with the full morning star style, this may be forced to reassess Habboudi expectations.
Distinctive image from Adobe Stock, Chart from TradingView.com
