CandleFocus

After The Bitcoin Crash: Will It Rise Or Drop Again? 5 Key Indicators

In the wake of a recent crash in Bitcoin's price, on-chain analysis data provider Lookonchain has shared insights into five critical indicators that may help assess Bitcoin's current position. The indicators include the Rainbow Chart, which suggests a bullish long-term trajectory for Bitcoin; the RSI, which currently indicates that Bitcoin has not reached its peak despite a high reading; the 200 Week Moving Average Heatmap, which shows that the top price point has not been reached yet; Coin Days Destroyed, which implies that Bitcoin's top has not been reached yet; and the 2-Year MA Multiplier, which suggests that the market has not reached the top yet. Overall, Lookonchain's analysis points to the conclusion that the top of Bitcoin's current market cycle may remain undiscovered.

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