BitcoinLong
BTCUSD hovers above the 100800 support
Bitcoin's current bull market mirrors the 2015–2018 cycle, with Realized Cap up 2.1x, well below the previous cycle's 5.7x peak, indicating room for further expansion.
Meanwhile, capital rotation from LTHs to STHs, indicated by the steep decline in the Long/Short Term Supply Ratio Change, and ETF inflows of more than 100 mln USD could support further gains in bitcoin.
From a technical perspective, BTCUSD rebounded above the ascending channel's lower bound and the support at 100800. If BTCUSD sustains its bullish momentum, a rise toward the swing high at 108500 may occur. Conversely, a bearish breakout of the channel and close below the support at 100800 may prompt a steeper decline to the following support at 91000.
Author: Li Xing Gan, CMT, CFTe,
Financial Market Strategist Consultant to Exness
Meanwhile, capital rotation from LTHs to STHs, indicated by the steep decline in the Long/Short Term Supply Ratio Change, and ETF inflows of more than 100 mln USD could support further gains in bitcoin.
From a technical perspective, BTCUSD rebounded above the ascending channel's lower bound and the support at 100800. If BTCUSD sustains its bullish momentum, a rise toward the swing high at 108500 may occur. Conversely, a bearish breakout of the channel and close below the support at 100800 may prompt a steeper decline to the following support at 91000.
Author: Li Xing Gan, CMT, CFTe,
Financial Market Strategist Consultant to Exness
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.