The Tango of Bitcoin at 200 thousand dollars: Only halfway through the dance!
It seems that Bitcoin is playing hard to get, teasing us with record levels while saving its best moves for later! Four on-chain indicators suggest we are just warming up:
1. Bold rainbow chart forecast🌈
BTC's journey to 200 thousand dollars is only halfway through
Current price movements are just the beginning of the show
2. RSI flirting at 71.35📈
Slightly "overbought," but far from the peak zone of 90+
It still has plenty of room to show what it's capable of
3. Technical signals indicate "more to come"🔎
The 200-week moving average on the heat map is still in the blue zone
The 2-year moving average multiplier has yet to touch the red line
4. Retail FOMO? Not even close!
Trading volumes below the annual average
The 2-year moving average multiplier has yet to touch the red line
Trading volumes below the annual average
Long-term holders are absorbing coins while short-term leveraged players are getting swept away
Recent price movements show that BTC is bouncing between 107 and 110 thousand dollars with increasing volume, suggesting accumulation before the next jump. Smart money is not retreating - they are loading up before the main event!
The above data has been searched and developed by artificial intelligence and does not constitute investment advice.
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