**Bitcoin: Ready to Go Up or Down?**
Bitcoin (BTC) is feeling a bit uneasy, guys! After experiencing severe volatility in early October, BTC is now trading below $61,000, down 5% in the last 10 days. However, there are several indicators that make us optimistic.
- **Exchange Outflows**: According to CryptoQuant, more BTC is leaving the exchange than entering. This could be a bullish sign as it reduces selling pressure. š
- **MVRV**: BTC's Market Value to Realized Value has dropped below 2, usually a sign that the market is in an accumulation phase. Time to buy?
- **RSI**: The Relative Strength Index is approaching the bullish zone at 30, now around 38. A "want to buy" signal!
However, be careful! The whale activity that sold 30,000 BTC in the last 72 hours could cause the price to drop if demand doesn't increase.
What do you think? Let's discuss in the comments column!
