Bitcoin Price: 2 Key Metrics Hint at Big Dip Before Next Bull Market

Bitcoin flips back to bearish

MACD Histogram and RSI show fading momentum

Stay above $6.3K to avoid the fray

Things to watch with Bitcoin price

“There seems to be a narrative that longs need to be squeezed before we can move upwards. That’s a wrong statement, based on history.”

“The ATH’s of longs on Finex was constantly around a low of Bitcoin. They started to drop with a breakout upwards.”

“Bitcoin Unrealized Profit is low at the moment & seems to be trending down. At the same time, Unrealized Loss is trending up. Look out for a cross over, historically signaled bottoms.”

Fear is on the rise!

Bitcoin’s MVRV Z-Score and the NVT Signal suggest a little bit more pain

“The MVRV Z-score has historically been very effective in identifying periods where market value is moving unusually high above realized value. These periods are highlighted by the z-score (red line) entering the pink box and indicate the top of market cycles. It has been able to pick the market high of each cycle to within two weeks.”

Bitcoin NVT-Signal

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