Cryptocurrency news:
1. Analysis of on-chain supply losses indicates three phases of Bitcoin movement:
- Phase 1: growing losses, reaching the pullback level of 0.78;
- Phase 2: losses decrease and enter the range of 0.618-0.50, which indicates the beginning of a lateral trend;
- Phase 3: Losses continue to decline to the 0.236 level, indicating an approaching top of the sideways market.
2. Bitcoin is now in phase 2, which is optimistic because it usually does not see a parabolic rise in losses.
3. The current movement of supply losses in the range of 0.618-0.50 is similar to the dynamics before the halving in 2016.
4. Phase 3 will occur when the losses break the sideways range and continue down to the 0.236 level.
1. Analysis of on-chain supply losses indicates three phases of Bitcoin movement:
- Phase 1: growing losses, reaching the pullback level of 0.78;
- Phase 2: losses decrease and enter the range of 0.618-0.50, which indicates the beginning of a lateral trend;
- Phase 3: Losses continue to decline to the 0.236 level, indicating an approaching top of the sideways market.
2. Bitcoin is now in phase 2, which is optimistic because it usually does not see a parabolic rise in losses.
3. The current movement of supply losses in the range of 0.618-0.50 is similar to the dynamics before the halving in 2016.
4. Phase 3 will occur when the losses break the sideways range and continue down to the 0.236 level.