🔍 Towards a Bitcoin over 120.000$ ?
The MVRV Ratio is used here to identify periods when Bitcoin significantly deviates from the average acquisition price.
📊 Between the orange and red curves, we are in a zone of significant overheating that may lead to a correction. At the beginning and end of the year 2024, the price had marked a top around the red curve.
👉 the red curve is currently around 120,000$
During the previous bull run of 2021, the price managed to break through this resistance zone, which triggered an impressive rise!
Do you think we could see the same pattern in the coming months?
(YES = 👍)
