Analyst Reveals Traces – Is Bitcoin Historical Cycle Bika finally at the end? – Tradingview News

Bitcoin, a leading cryptocurrency, continues to show uncertain momentum because in January 2024. was hit by his increasing $ 109,000.

Since then, the digital agent has experienced reduced activity bulls and constant pressure downwards, reflected in its last price of about $ 82,000, marking a marginal weekly decline of about 0.6%.

Implications of market trends of the scope ratio

In the midst of these market conditions, the CRIPTO day, analyst who contributed to the CriptokuNoEnant Quicktake platform, provided insight into the highlighting of a significant market trend.

According to the day, the volume of Trade Bitcoin’s for six to twelve months acts as an indicator of the capital amount entering the Cryptocurrency market during certain market cycles.

As highlighted in the chart, a metric usually passes two different phases: the first signals the wound phase of the bull cycle, while the second, lower decline, traditionally marks the peak and the next end of the cycle.

The ratio of the ratio ratio of the collection that the CRIPTO day presented insight into the behavior in investor behavior and market feel. In essence, how this relationship is reduced by the second time, historical patterns suggest that the interest of investors and speculative activity can start the cone, potentially signaling the peak of current driving in progress.

Investors usually carefully interpret such movements, because similar events have often preceded significant market corrections in the market

Technical analysts view of bitcoin

Technical analysts add additional perspectives of the current bitcoin status. Analyst RextCapital has recently pointed out significant development in Bitcoin’s relative power index (RSI) -a – installation that measures the speed and size of recent pricing movements to assess transformations or oversized price conditions.

Rextcapital emphasized that the RSI monthly level was previously represented by resistance levels during the domination of bitcoin in August 2019 and December 2020. years.