Analysis Firm Warns: “Bitcoin Price Will Not Forget These 5 Levels, May Test Them”
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Cryptocurrency analysis firm Alphractal has published a remarkable assessment of the Bitcoin market. By examining derivatives trading data from the past four years, the company identified price zones where Bitcoin showed low trading volume and weak trading activity. It was noted that these zones could be retested in the coming months. According to Alphractal’s analysis, Bitcoin has historically traded sparsely at $99,000, $89,000, $81,000, $77,000, and $74,000. Such low-volume zones coincide with periods of rapid price movement or weak investor interest. The firm said these gaps are typically retested within a year. Related News: Bitcoin’s Mega Rally Has Stalled: What’s Next? What Are the Key Levels? On the other hand, it is observed that US-based investors have returned to the market strongly. Alphractal stated that during Bitcoin’s recent rise, the Coinbase Premium Index has moved back into positive territory. This index measures the price difference between Coinbase and other major exchanges. A positive index indicates that buying pressure is increasing in the US market and means that Bitcoin is trading at a premium to Coinbase. Alphractal stated that this development particularly reflects the optimism of institutional investors and capital inflows originating from the US. The company states that this signal should be monitored carefully. *This is not investment advice. Continue Reading: Analysis Firm Warns: “Bitcoin Price Will Not Forget These 5 Levels, May Test Them”
Source: BitcoinSistemi
