BITCOIN BEARISH MOVEMENT WITH ONCHAIN
Hello Traders and analysts.
As you can recall from previous analysis, Bitcoin had a bearish movement, and we also predict it.
I screenshotted a metric in Glassnode that shows the supply of wallets between 1K to 100K. This chart is hourly and shows today's movements between wallets; as you can see, the value has decreased today. This chart indicates that correction might continue, and the price can see lower levels. On the technical side, the price has formed a head and shoulder pattern and has a bearish momentum in every candlestick that shows this price is not the right place to buy, and the correction might continue.
Note that this is a short-term analysis and is only valid for a couple of days (or just a couple of hours).
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What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you won't miss the updates. The information given is never financial advice. Always do your research too.
Good luck.
As you can recall from previous analysis, Bitcoin had a bearish movement, and we also predict it.
I screenshotted a metric in Glassnode that shows the supply of wallets between 1K to 100K. This chart is hourly and shows today's movements between wallets; as you can see, the value has decreased today. This chart indicates that correction might continue, and the price can see lower levels. On the technical side, the price has formed a head and shoulder pattern and has a bearish momentum in every candlestick that shows this price is not the right place to buy, and the correction might continue.
Note that this is a short-term analysis and is only valid for a couple of days (or just a couple of hours).
------------------------------------------------------------------------
What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you won't miss the updates. The information given is never financial advice. Always do your research too.
Good luck.
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