Reason to trust
Strict editorial policy which focuses on precision, relevance and impartiality
Created by industry experts and meticulously revised
The highest standards in the declaration and publishing
Strict editorial policy which focuses on precision, relevance and impartiality
Morbi Pretium Leo and Nisl Aliquam Mollis. Quisque Arcu Lorem, quis pellentesque nec, ultlamcorper eu odio.
Este Artículo También is respondable in Español.
After months of bullish impetus which pushed the price of bitcoin to a The highest more than $ 109,000 Earlier this year, analysts are now debating if this thrust marked the official market summit. Strengthen this argument, a confluence of technical indicators suggests that the market cycle may have already culminated – in particular the behavior of Market value with real value (MVRV) ZZ strengthens this point of view.
MVRV Z-SCORE shows that the price of bitcoin has exceeded
A new technical analysis By crypto analyst, Tony Severino, who combines MVRV Z-SCORE and the index of relative monthly force (RSI), flashes warning signs that The upper Bitcoin market can already be.
Related reading
Looking at the Logarithmic Price Table, the Bitcoin MVRV Z-Score broke under a long-standing trend support line. This scheme is significant, because the Z score has always respected the upward trend support lines during the bullish markets, with similar breaks by emerging after Bitcoin reaches an official market summit.
In particular, this is not the first time that Bitcoin has posted such trend behavior. Similar support line breaks occurred before peaks in the BTC market during the 2017 and 2021 bull cycles. Bison argument reaches a price of prices is also reinforced by the visual correlation between the Z score and the monthly RSI of Bitcoin, which is shown by a black line on the graph.
In past cycles, Bitcoin RSI fell below 70 twice, indicating the discoloration of the momentum and weakening prices. Historically, such movements below level 70 occur shortly after the prices, not before.
Even more convincing, the mobile average (MA) based on RSI, highlighted by the orange line of the graphic, is now curled up. This subtle but strong signal only appeared in the cycles passed after the market has already exceeded, serving as confirmation rather than prediction.
Overall, these technical indicators and these historical trends strongly suggest that the peak of $ 109,000 in Bitcoin may have marked the top of this market cycle. In accordance with the previous behavior of the Haussier post-top market, Bitcoin could now be about to enter Prolonged bear market. These downward prospects are reinforced by recent high price corrections, a reduction in investors’ confidence and a clear change in the feeling of the market towards Prudence and uncertainty.
Bulls try to reverse the Bitcoin Bitcoin perspectives
In another of his most recent analyzes of Bitcoin, Severino revealed that the bulls seem to push for a Price recovery. The analyst has recognized that his previously dominant Bitcoin downtime story could soon see a significant change if the bulls can support the momentum towards the monthly fence of April.
Related reading
According to the graphic presented, Bitcoin is now testing a field of key interest while simultaneously showing early bullish signs of overthrowing the low -term monthly lowered crossroads Divergence of Mobile Average Convergence (MacD). Adding to the plot, the possible training of a Morning candlestick model Reinforces the possibility of a bullish reversal for Bitcoin.
In particular, configurations of similar graphics have had Bitcoin long -term perspectives. If cryptocurrency manages to close April with a complete morning model, it could force a reassessment of Lower expectations.
Adobe Stock star image, tradingView.com graphic
