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Bitcoin: Key Metrics And Movements Amid Price Volatility
Despite recent declines in Bitcoin’s price, short-term holders remain in profit, with an average unrealized gain of +7.9%. This marks a crucial level for gauging local price momentum.
Interestingly, the collective cost basis for these holders is $86.8K, indicating that this figure has become a key region of interest for assessing local price momentum.
As Bitcoin’s price continues to oscillate wildly, technical indicators are flashing warning signals. The TD Sequential indicator has flashed a buy signal on Bitcoin’s hourly chart, hinting at the potential for a price rebound – provided the $93,000 support level holds. However, if this threshold is breached, it could be a sign of trouble ahead.
The TD Sequential indicator presented a buy signal on the #Bitcoin $BTC hourly chart, anticipating a price rebound if, and only if, the $93,000 support holds.
Source: nulltx.com
