Bitcoin (BTC) has decreased by 4.4 % over the past seven days, raising fears that the upper encrypted currency, according to the maximum market, may face a sharp collapse in prices, amid global inexpension to the macroeconomic economy. However, fresh data on the series indicates that the current decline may approach its end.
Bitcoin retreated on his way to its end
According to the recent participation of X by Crypto Analyst Cryptoogoos, it seems that the continuous bitcoin decline loses momentum. The following graph analyst shared, noting that BTC sellers in the short term “exhaust”.
The graph shows the bitcoin, which measures the difference between the purchase and sale activity in the stock exchanges-usually using the request for requests for requests or flows on the chain. Positive Delta indicates a stronger purchase benefit, while negative Delta indicates high pressure pressure.
The visual reduction indicates the intensity and frequency of red nails – which represents the pressure pressure – towards the right side of the planned that the pressure pressure weakens. At the same time, the increasing presence of green mutations reflects the increasing domination of purchase orders on sale orders.
Meanwhile, Titan of Crypto referred to a potential upward banner on the daily Bitcoin scheme. He pointed out that the next main step for the price can depend on the FOMC meeting (Federal Open Market Committee) of the Federal Reserve.
Likewise, the Merlijn encryption trading trading in the upcoming expectations, noting that the Bitcoin Mediterranean Convergery Index has turned the green on the weekly graph while maintaining its current structure.
For beginners, MACD is a momentum an indicator used to discover changes in the strength and direction of the trend in prices. It does this by comparing the two vicious averages for the price and shows signals when these lines cross, which helps traders to determine the time of buying or selling.
BTC should defend this support level
In x separate mailThe most prominent experienced analyst on Martinez highlighted the level of decisive support that Bitcoin should carry to avoid a Park correction. Quoting the market value to the value -pricing difference (MVRV), Martinez warned that if BTC decreases to less than 102,044 dollars, it may decrease to 82,570 dollars.
Moreover, new exchange data shows that Bitcoin trading activity has decreased across all major trading platforms. It is worth noting that BTC trading volumes via leading stock exchanges recently He hits Multiple declines.
Despite this, Boyle is multiple Suggest There may still be space for BTC price. At the time of the press, BTC is trading at 104,713 dollars, an increase of 0.4 % in the past 24 hours.
Distinctive image from Unsplash.com, plans from x and tradingview.com
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