Hello Traders
As you know, the inflation rate decreased to 6% in the past day, this news created a significant bullish movement for Bitcoin Price, but don't get FOMO, Yet. As you can see Bitcoin's overall Technical shows that, the price is still in a bearish phase in the bigger picture, and is currently on an excellent resistance level, both Dynamic and static.
On the Onchan side, I screenshotted a metric called Net realized Profit/Loss, Net Realized Profit/Loss is the net profit or loss of all moved coins, the value shows that the whole network was moving their bitcoins in profits today, which can cause a reversal in the bullish trend.
Overall I can see a Correction or consolidation for bitcoin before the bullish phase.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
As you know, the inflation rate decreased to 6% in the past day, this news created a significant bullish movement for Bitcoin Price, but don't get FOMO, Yet. As you can see Bitcoin's overall Technical shows that, the price is still in a bearish phase in the bigger picture, and is currently on an excellent resistance level, both Dynamic and static.
On the Onchan side, I screenshotted a metric called Net realized Profit/Loss, Net Realized Profit/Loss is the net profit or loss of all moved coins, the value shows that the whole network was moving their bitcoins in profits today, which can cause a reversal in the bullish trend.
Overall I can see a Correction or consolidation for bitcoin before the bullish phase.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
------------------------------------------------------------------------
What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
