CandleFocus

5 Key Indicators Show Bitcoin Still Far from Cycle Top: Details

Author: Content Editor
Experts suggest that Bitcoin still has room to grow before reaching its market cycle top. Despite a brief dip, the cryptocurrency has rebounded and reached a high of $97,300. Google Trends data shows increased retail investor interest in Bitcoin, but it remains below the levels seen in 2021. Market sentiment and technical indicators also support the potential for further upward momentum. The narrowing gap between moving averages suggests a possible parabolic rally, similar to the trends observed in 2020. Bitcoin's recent break above the upper Bollinger Band and the RSI below the overbought threshold further indicate the likelihood of continued price increases. On-chain data demonstrates that most Bitcoin holders bought their holdings at a lower price, suggesting they are still in profit. Resistance levels are not heavily concentrated, leaving room for further growth. Overall, market conditions appear favorable for continued bullish momentum.

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