The percentage of demand/price on bitcoin remains positive-can BTC carry a long-term momentum?
Bitcoin has been traded within a tight range over the past twelve days, holding a level of $ 94,000 while struggling to violate the brand of $ 100,000. This prolonged unification of investors is not sure of the short -term direction, with divided opinions indicating either an imminent outbreak at the high levels at all or the continued sale of pressure at lower price levels.
Market morale is still mixed, as some analysts argue that BTC is building momentum for a large gathering, while others warn that the lack of constant purchase pressure may lead to a deeper correction. The total market conditions reflect increasing speculation, as traders closely monitor the main support and resistance levels to confirm the next step.
Although uncertainty, Cryptoquant data reveals that Bitcoin’s basic demand is still strong. While the demand for BTC decreased compared to the price range from $ 60,000 to 100 thousand dollars, it is still positive and average values. This indicates that buyers accumulate, albeit at a slower pace, which enhances the idea that the current range can be a period of health monotheism rather than an early sign of a great contraction. The coming days will be very important in determining whether BTC can get out of its range, resume its upward direction, or face renewable sale pressure.
The demand for bitcoin remains strong at the current levels
Bitcoin continues to show elasticity despite its failure to confirm a short -term direction, while maintaining its bullish structure in the long run. The market remains in a standardization stage, with BTC trading between 94 thousand dollars and 100 thousand dollars, which makes investors not sure of its next step. However, the basic demand indicates that the general bitcoin path is still strong.
Senior analysts Axel Adler Common joint data on xWith the disclosure that despite the low demand for bitcoin compared to the scope of between 60 thousand dollars and 100 thousand dollars, it is still positive and above medium values. This indicates that although the pace of accumulation has slowed down, it has not passed, which enhances confidence in the BTC capabilities in the long run.
The percentage of demand/bitcoin price is crucial in assessing the strength of the bitcoin market. This percentage reflects the amount of “accumulated demand” that corresponds to each unit from the Bitcoin price, providing an insight into the current price support. When the ratio is higher than scratch, it indicates strong demand for the price, indicating an increase in prices. On the contrary, if the ratio decreases to below zero, it indicates the weakest demand and the minimum price movements, which may lead to a deeper correction.
Another decisive factor must be observed, which is the effect of low demand for high price levels. While BTC is still within its monotheism, the strong demand over the 94,000 dollar sign indicates that long -term holders are confident in the current price structure. This can pave the way for an aggressive step in the coming weeks.
Ultimately, the Bitcoin’s ability to maintain the demand for these levels will be determined if it exceeds the sign of $ 100,000 or faces more corrections. With the continued accumulation trends, the BTC standardization stage can be a preparation for the following main penetration, indicating the regeneration of the bullish momentum in the market.
BTC price procedures: short -term liquidity testing test
Bitcoin is trading at a price of $ 96100 after days of side trading in a narrow range, struggling to find a clear direction. The price constantly closed between 95,700 dollars and 97800 dollars for twelve consecutive days, highlighting a stage of frequency as the bulls or bears did not control. This deficiency in the movement has left the merchants not sure of a short -term outlook, as many expect an imminent outbreak.
While the long -term trend is still optimistic, short -term prices have been nourished by speculation and anxiety between investors. Feelings are still divided, as some analysts call for the continuation of the upward trend, while others fear a deeper correction if BTC fails to restore the main levels.
If Bitcoin is able to restore the brand of $ 100,000 in the coming days, this may lead to a strong gathering towards its highest levels ever. Keeping this psychological level would refer to renewable strength, attract more buyers and feed more prices.
On the other hand, the loss of support of 94 thousand dollars may lead to an increase in the pressure pressure, pushing BTC to low -order areas. A decrease below this level may indicate a transformation in the momentum, which may lead to a correction of about $ 90,000. Currently, all eyes remain on Bitcoin while merchants are waiting for the next main step.
Distinctive image from Dall-E, the tradingView graph
