These Metrics Say $108K Bitcoin Price Was Local Bottom.

Main meals:

• The amended still still flow in Bitcoin has decreased to less than 250,000, which is a historical purchase area.

• The NUPL holder turns in the short term, indicating the seller’s exhaustion.

• Bitcoin’s V-shaped graphic patterns indicate a possible rise to $ 118,000 -124,500 dollars in the short term.

The Bitcoin (BTC) price was traded by 5 % higher than its local decline of $ 108,650, with three indicators indicating that this level may have set the BTC’s local bottom.

Smile hints modified at the bottom of BTC

One of the scale that can be used to determine whether the Bitcoin market has been placed on the bottom is the modified flow of stillness that has been modified, which represents the current market value of BTC and the annual silence value (measured in US dollar).

Related to: Bitcoin Bulls has returned: Here is what is required for a crowd to $ 120,000

Historically, a decrease in the index, which is less than 250,000 (red circles), provides a “good historical purchase” and often preceded the recovery of significant costs or the end of price corrections. The index fell to the lowest level in 1333 on Thursday.

Historically, wraps coincided over 250,000 after a previous decline with the start of the important bull run. One of the cases is when Bitcoin came out in July 2021 and started a new tour of the bull, where the scale is located in the Green Zone. Bitcoin continued the highest record of $ 69,000 on November 10.

With the index sent a bullish sign again, the price may rise from the current levels about $ 114,000 to test its highest levels in the short term.

As Cointelegraph mentioned, the consuming output percentage of Bitcoin (SOPR) decreased to 1.5, a historical area with local bottoms.

Net profit/net loss from Bitcoin Sth is negative

The net profit/unrealized loss of Bitcoin has turned in the short term (NUPL), indicating a sign between new buyers, who carry BTC for less than 155 days.

“STH events have historical periods for the market reset, and often lay the foundations for renewed accumulation,” He said Onchain Glassnode Data Provinuation on Monday.

“History says this surrender area often represents local bottoms,” He said Adding Crypto Jack in X Publishing on Tuesday, adding:

“The preparation screams early accumulation.”

Historically, the negative NUPL holder coincided in the short term with prices of prices during bear markets or corrections, indicating a widespread exhaustion between sellers.

Once this selling pressure decreases, a long -term bearers or new buyers can be required and paid prices up.

For example, the negative NUPL readings were observed near the local bottom in April less than 75,000 dollars, before the price of the BTC/USD pair increased by 65 % to an increase of 124,500 dollars.

More graphs at the bottom of $ 108,000 alludes

The BTC price has been procedure since September 18 to the appearance of a V -shaped pattern on the graph for 12 hours. This follows a preliminary decrease that saw Bitcoin decreased by 7.8 % to a decrease in $ 108,700 on Thursday.

Buyers accumulated more on this decrease, which led to a sharp reflection of the current levels. The RSI (RSI) index increased to 53 of the sale area in 27, indicating an increase in upward momentum.

Since the price tries to complete the V -shaped style, it may rise further towards the neckline of the pattern, about $ 118,000, the resistance area, which represents 4 % increase in prices from the current level.

Zoom, dual -bottom formation on the daily chart returns to the highest level ever at $ 124,500, as soon as the resistance is broken at $ 118.00. Such a step will bring the total gains to 10 % of the current price.

Bitcoin market structure only “clean”, ” He said Matthew Hayland, encryption analyst, in reference to a double bottom in the daily time frame and a potential sliding of the head and the reverse shoulder.

“Q4 post entry in half, where BTC found the highest historical bikes”

As CointeleGRAph mentioned, the BTC price may accumulate about $ 140,000 soon if the resistance is broken between $ 112,000 and $ 114,000.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.