High BITCOIN network activity (Correction)
Hello Traders
As you can see in the chart above price had a bullish momentum; in the past week, Dollar Index had a death cross and decreased, which can sustain this bullish movement of bitcoin.
On the Onchain side, I screenshotted a metric from Glassnode called Net realized Profit/Loss, which is the net profit or loss of all moved coins. The metric value has decreased drastically, indicating a bullish price move. Massive on-chain activities showed that old wallet had also moved their bitcoins in a loss. Indeed, there is a risk of volatility for the price, but I can see a correction before the continuation of the price, and I believe price can see higher prices.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
As you can see in the chart above price had a bullish momentum; in the past week, Dollar Index had a death cross and decreased, which can sustain this bullish movement of bitcoin.
On the Onchain side, I screenshotted a metric from Glassnode called Net realized Profit/Loss, which is the net profit or loss of all moved coins. The metric value has decreased drastically, indicating a bullish price move. Massive on-chain activities showed that old wallet had also moved their bitcoins in a loss. Indeed, there is a risk of volatility for the price, but I can see a correction before the continuation of the price, and I believe price can see higher prices.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
------------------------------------------------------------------------
What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
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