Bitcoin is now in a critical stage, as it is combined between major supply levels and demand because uncertainty dominates the market. Over the past week, the price ranged between 98 thousand dollars and 94 thousand dollars, leaving merchants and investors to speculate the next important movement. Feelings are still divided, with a lot of trend towards a declining direction, indicating that the next stage can bring aggressive prices in either direction.
The last two months have been distinguished by monotheism and continuous sale pressure, preventing Bitcoin from storming the price discovery area. The bulls have struggled to restore the brand of $ 100,000, while the bears failed to push the price to below critical demand levels, which led to a speculative environment where none of the two sides controlled.
Despite this uncertainty, the main scales of Glassnode offer a glimmer of hope for the budget investors. The Bitcoin market value has turned into the momentum of the achieved value (MVRV), indicating the possibility of reflection of the direction. The MVRV ratio, a widely used scale for market morale and profitability, indicates that the sale pressure may be a dilution and pave the way for a possible penetration. BTC also enhances this decisive turn, all eyes on whether the price will be paid over the resistance or decline to low demand areas in the coming weeks.
Bitcoin Index indicates the transformation of momentum
Bitcoin price is still driven by speculation and uncertainty, while remaining an unexpected short -term direction. The price has struggled to restore a mark of $ 100,000, prompting some analysts to speculate that the bull cycle may have already reached its peak at the level of 109 thousand dollars. This feeling creates a cautious environment, with fears of a potential correction dominating the narration of the market.
However, alternative opinions indicate that Bitcoin can prepare for a huge crowd by merged and finds a strong demand at the current levels. The advocates of this opinion highlight the flexibility of Bitcoin over the decisive demand areas and the possibility of outbringing as soon as the conditions of the market are stabilized.
Senior analysts Ali Martinez Convincing visions on xRefer to the key data from the Glassnode. He revealed that the market value of Bitcoin to the momentum of the achieved value (MVRV) has turned, indicating a possible reflection of the direction. The percentage of MVRV, which measures the percentage of the market value of Bitcoin to its achieved value, indicates whether the original has been purchased or increased the sale. The conversion of the last momentum indicates that the pressure pressure may fade, and the market may put itself in a upscale stage.
If Bitcoin bears current levels and successfully recovering a sign of $ 100,000, analysts expect an aggressive increase towards higher levels. With the market monitoring for confirmation, the next step of BTC can determine the tone for the coming months, either to reformulate Mars or enhance the homosexuality.
BTC Prices: Keys levels to watch
Bitcoin is trading at $ 96,000 after experimenting with great fluctuations and uniformity between two levels of decisive liquidity. The market remains in a stage of frequency, with the inability of the bulls to pay the price above the level of 98 thousand dollars, not to mention the restoration of the $ 100 thousand sign to restart the upward trend towards the discovery of prices. On the other hand, the bears have struggled to pay the price below the level of 94 thousand dollars, a decisive demand area that provided strong support during the past few weeks.
This limited price procedure led to uncertainty in the market, leaving analysts and investors divided around the next potential step. The current monotheism phase of decisive penetration will accumulate, but until the confirmation is seen, the short -term trend remains speculative.
In order for the bulls to regain control, Bitcoin must close a weekly candle over the sign of $ 100,000, indicating renewable strength and mobilization in an unknown area. On the contrary, a weekly closure less than 94 thousand dollars indicates that the bears have probably controlled, most likely sending BTC to low -order areas, perhaps about $ 89,000.
Distinctive image from Dall-E, the tradingView graph
