Bitcoin course after $ 230,000? 30 signals confirm this – Coinglass advises: Stay strong
- Coinglass signals that BTC still has 120% upward potential, although no bull market top indicators have been triggered.
- Pi Cycle, MVRV and RSI indicate that the Bitcoin course line keeps the upward trend and remains strong, but not near a market high.
Bitcoins on-chain displays point to the upswing, even if the course stays near the record level. Coinglass says that long -term investors should keep their full commitment. Analysts are disagreed with whether the dynamic continues or reached its climax. The stalemate now revolves around 30 classic signals, which have so far pointed upwards.
When writing this article, Bitcoin is traded for $ 105,093.46 – an increase of 0.55% in the last 24 hours.
Coinglass model signals 120 percent scope
Coinglass’s “Bullenmarkt-Peak” Dashboard pursues 30 metrics to identify blow-offs. Today it shows that all triggers are inactive and Bitcoin is kept 100 %. The composite view says that the price could increase by 120 % before the traffic lights become green. The website finds that the course rose by 30 % in the second quarter, even though it has reached an all -time high.
Trader Cas Abbe raised the Pi cycle top, the ratio of market value to realized value and the long -term RSI. He said the X-Followernthat The three values are okay, which is why he is targeting $ 135,000 to $ 230,000 in this cycle. Abbe referred to the figures from March and said that earlier peak values were only reached if these three key figures shot together. “”This is not the summit“, He closed.
Coinglass categorizes its indicators into four risk bands: accumulation, distribution, caution and panic. All metrics are in the safest area, the company wrote in a message to its subscribers. The model looks at moving average transitions, realized cap trends, resting currents and the profitability of the miners.
The Pi Cycle Top is triggered when the sliding 111-day average crosses the 350-day double curve. Coinglass says that these lines are still running in parallel and are far below the intersections from 2013, 2017 and 2021.
The MVRV is divided by the market value by the realized value. According to Abbe, the value is 2.2 and thus below the 3.7 peak values of previous highs. He also found that the monthly RSI is 68, in contrast to the middle 90s, which preceded the past bear markets.
Skeptics refer to volatility tapes and the echo from 2021
Not everyone believes in the Hausse thesis. The inventor of the Bollinger ligaments, John Bollinger, has recorded three rejections near the upper band since the rise of $ 75,000 in April. He warned that the trend could drift into a longer consolidation or even reverse if the dynamic subsides.
The independent dealer Roman shared a similar concern and claimedthat the downward movement of a distribution from the end of 2021 is similar. He said that the price “can hardly rise higher without falling”, which means that whales unload with every rally.
Proponents argue that regulated stock exchange -traded funds and the institutional custody that did not exist four years ago, withdraw the offer from the stock exchanges. They argue that a mature market could weaken a strong sale.
Bitcoin was last traded at $ 98,200 on Friday afternoon, about six percent below the highest level in March. This level is still far from the psychological six -digit milestone that many market participants strive for.
Bollinger wrote that traders should remain vigilant because narrowing tapes often predict major changes in direction. He pointed out similar burglaries in May 2021 and November 2022, to which fluctuations of 50 percent preceded.
At the moment, Coinglass does not see any surrender in its extensive indicator set. The prices will reward this optimism or repeat the year 2021 – but only if the depth of the order flows exceeds the bear headlines. In the coming weeks, market participants will observe every rejection, every on-chain pulse and every headline for clues.
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