Analytics Glassnode says that Bitcoin (BTC) is still strong as long as there is a decisive support area.
Glassnode He says The CBD Data Victory Distribution Map shows that bitcoin has strong support in the “structural importance” area between 93,000 – 100,000 dollars.
CBD is a scale on the chain used to show price areas as investors bought their coins and their amount. Prices with dense supply groups can be the levels of support or resistance, as they indicate levels in which investors tend to collect or cancel their property.
Glassnode says that the price of 93,000 to $ 100,000 works as BTC support and maintains the structure of the Crypto King Market. However, the below -level move can ignite a sale event.
“However, the collapse below can lead to a deeper correction, especially if their holders who have a cost in this region begin to surrender and add to the pressure pressure.”
Currently, Glassnode says that Bitcoin currently shows “signs of profitability and slow chain activity”, indicating that King Crypto is in a standardization phase with low investor fluctuations.
“Until we see Beck August in profitability and activity standards, the possibility of outbringing to the highest level of ever is still limited. At the present time, the market seems to calm previous gains, and the new momentum is waiting and the new demand flow.”
Analysis Company also says that the Bitcoin batch to the highest new level ever in May was not accompanied by an increase in the size of the BTC spot and that the size levels were lower than it was recorded earlier in the current bull market.
Bitcoin is trading at $ 107256 at the time of this report.
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