$BTC #Bitcoin MVRV Ratio Analysis Bitcoin's MVRV Ratio has | _Wendy on Binance Square

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$BTC #Bitcoin MVRV Ratio Analysis
Bitcoin's MVRV Ratio has retreated to its long-term average of 1.74, a critical level often linked to consolidation periods. 
This reflects a reduction in unrealized profits, mirroring the August 2024 correction, and may act as a support zone if maintained.

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$BTC #BTC Analysis Bitcoin has breached the ascending channel and is now testing the pattern from beneath. The 50-day moving average stands as a resistance above the current price level. A confirmed retest could solidify the breakdown, signaling further declines. Conversely, a failed retest might see the price re-enter the channel, suggesting a continuation of the prior range. Keep a close eye on price movements for clarity.

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