Este artículo también está disponible en estñol.
A report from the Glassnode series on the bitcoin price area that could be necessary for bulls.
Many Bitcoin’s main measures indicate the same price range now
In the latest weekly report, Glassnode Discuss the basis of the cost of Bitcoin investor from different angles. The first indicator that the analysis company shares is the “UTXO distribution” (URPD), which mainly tells us how to distribute BTC supplies between different price levels based on the last treatment value.
Related reading
First, here is how this scale appeared before the last price collapsed:
As visible in the graph, very few metal currencies on the basis of cost between $ 70,000 and $ 92,000 before collapse. In the series analysis, the basis for the investor cost is an important topic, as their holders are likely to move when the profit loss mode is threatened. Since this range contained the acquisition level of only a small part of the width, it was a kind of “air gap” in terms of possible demand.
This may be the reason why BTC sliding easily in this area when the accident came. Nevertheless, the bulls came in providing support, and they have since participated in some purchase in this vacant area, and changing URPD.
Thus, the range is now better prepared to provide support than before, although it is still a kind of empty area when compared to other bitcoin cost centers.
The second indicator that Glassnode talked about is the achieved price for short -term holders. “Critical Price” is a term that was also in the full form of URPD. What this scale measures is the basis for the cost of the ordinary investor who belongs to part of the BTC user base.
Below is a scheme that shows the trend in the index of the term (STHS), who are Bitcoin investors who have bought their coins over the past 155 days.
“The basis for the cost of a short -term pregnant woman was an important reference level across Uptrends in the Taurus market,” the analysis company notes. “We have calculated ± 1 ±σ 1σ of the short -term cost, which usually serves as a type of upper and lower limit to conduct local prices.”
Interestingly, this minimum, i.e. standard deviation from the first level at the bottom price, is located at $ 71,000 at the present time. This is the same level where the previously mentioned air gap area ends.
Related reading
This is not the only place where this level appears, as the chart of active prices appears.
The “active, realized price” mainly takes the price of the entire BTC network, with an additional development. The scale only includes the “economic” offer, which means that it excludes part of the offer decided by Glassnode that it is unlikely to return to trading.
Nowadays, the active achieved price is $ 70,000, which is almost again the same level as the other tons. “With great meeting through many main cost standards, this price zone becomes an interesting area, and it may be the final defense line of bulls in a full surrender,” the report concludes.
BTC price
At the time of this report, Bitcoin is trading about $ 90,000, an increase of approximately 5 % last week.
Distinctive image from Dall-I, Glassnode.com, Chart from TradingView.com
