BTC On-Chain Network Activity Stabilizing, Is This A Good Sign?
- Ali Charts recommends traders await a notable upswing in the total value of on-chain transfers before considering a full investment in BTC.
- A significant medium-term bearish technical flag was triggered on BTC’s daily chart.
- BTC saw its price decrease by about 0.29% over the past day which left it trading at $26,012.31.
Ali Charts stated in a tweet that he is awaiting a notable upswing in the total value of on-chain transfers before considering a full investment in Bitcoin (BTC). Monitoring the Bitcoin network’s on-chain activity, especially the value of coins transferred in USD, provides a valuable signal for anticipating larger market uptrends according to the analyst.
In the post Ali shared that throughout history, larger increases in this measure have frequently come before significant BTC bullish periods. This particular metric has been stabilizing over the last four months, which could be a good sign for the market leader.
The post BTC On-Chain Network Activity Stabilizing, Is This A Good Sign? appeared first on Coin Edition.
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BTC On-Chain Network Activity Stabilizing, Is This A Good Sign?
- Ali Charts recommends traders await a notable upswing in the total value of on-chain transfers before considering a full investment in BTC.
- A significant medium-term bearish technical flag was triggered on BTC’s daily chart.
- BTC saw its price decrease by about 0.29% over the past day which left it trading at $26,012.31.
Ali Charts stated in a tweet that he is awaiting a notable upswing in the total value of on-chain transfers before considering a full investment in Bitcoin (BTC). Monitoring the Bitcoin network’s on-chain activity, especially the value of coins transferred in USD, provides a valuable signal for anticipating larger market uptrends according to the analyst.
In the post Ali shared that throughout history, larger increases in this measure have frequently come before significant BTC bullish periods. This particular metric has been stabilizing over the last four months, which could be a good sign for the market leader.
The post BTC On-Chain Network Activity Stabilizing, Is This A Good Sign? appeared first on Coin Edition.
Read More