In the last two days, Bitcoin (BTC USD) has seen fluctuations in price between 102335.72 dollars and a height of 106,428.81 dollars.
The price procedure makes it look as if BTC has stagnated within this price range, unable to re -test it at all (ATH) of 109,114.88 dollars.
Although the price of Bitcoin is less than 3 % than this historical peak, it looks stuck.
This speculation has fueled in some circles that Bitcoin may have shown at a peak and may not record more growth.
What mayor refers to from Mayer from Bitcoin
Glassnode, a leading financial standards platform in the series and the Maliba, has dealt with these concerns.
Depending on the multi -Mayer indicators (MM) of Bitcoin, Glassnode indicated that Bitcoin has not yet been overlooked.
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She said the price would need to exceed $ 181,000 before falling into the peak area.
Other analysts have even expected a higher range between $ 145,000 and 249,000 dollars. These depended on the trends of a double bitcoin price.
For clarity, Mayer Moleer (MM) is a famous scale created by Trace Mayer. It helps in evaluating whether Bitcoin has been clarified or excessive in selling or is circulated in a neutral area.
This is usually measured against the historical price style.
It is obtained by dividing the current price of BTC USD on the moving average for 200 days. Depending on the value obtained, analysts can determine whether Bitcoin is either exaggerated or denied by less than its value.
It should be noted that the tool does not indicate whether the investor should buy, sell or sell bitcoin.
The current value of the current Bitco Mm, where the original price is about $ 104,000 is 1.37. This indicates that the price of Bitcoin is 1.37 twice the average moving for 200 days.
It refers to the positive momentum of the digital origin, where it remains inside the neutral area and not yet in the area of the purchase.
Bitcoin (BTC USD) Path to $ 181,000: Bull Run Just Just?
The Bitcoin MM index provides an insight into the world’s leading digital currency course.
The MM level should rise above 2.4 or $ 181,000 for BTC to move to the peak zone. At this level, it means that the Bitcoin market has become feverish and has been disrupted.
As of the writing of these lines, bitcoin is trading at 106,123.90 dollars, which represents an increase of 1.18 % in the past 24 hours.
The current price level appears Bitcoin (BTC USD) still has about $ 74,000 to expand each MM index.
Experts suggest that Bitcoin’s Bull Run has not started, given the huge gap in prices between its current and expected prices.
They assure that although the price of bitcoin has risen over the moving average for 200 days, it is still far -fetched.
This is because the current MM value of 1.37 is much lower than the peak threshold of 2.4.
It indicates that the Bitcoin market is still healthy and well performed, with the possibility of increasing growth.
Bitcoin key support levels
In the broader encryption market, Bitcoin managed to stay above the psychological level of $ 100,000.
The currency has found support at $ 100700, as it has not decreased to less than this level in the past four days.
Market monitors say that BTC should find subsidies above the price of $ 104,000 to record higher performance.
In addition, investors need to revive their interest in assets as the trading volume decreased significantly.
As of the writing of these lines, the Bitcoin trading volume suffered by a 13.74 % decrease to 71.97 billion dollars.
Analysts depend that the bounce in investor confidence and the broader market dynamics can put Bitcoin on an upward journey towards dropping the price of $ 181,000.
