#加密行情震荡 Bottom Not Yet Formed: Bitcoin Hovering Around $70,000, Three New Signals Emerge

From the short-term chart perspective, Bitcoin is forming a similar technical pattern to March 6-8, when the price rebounded after a pullback. If it quickly reclaims $70,000, it could potentially open a rally toward $76,000, with a key turning point at $72,000. If it breaks below $68,300, it could potentially test $65,000 to $62,000. BTC may break below 6w.

From the all-time high of $126,000 last October to the current oscillation around $70,000, BTC's price has been like riding a roller coaster over just a few months.

Three New Signals📶

1. MVRV Z-Score, collective shift in anchored value system
2. Ahr999 Index (9 God Index), bottom fishing zone below 0.45 has persisted for nearly 50 days
3. SOPR, STH-SOPR continues below 1, LTH-SOPR continues hovering at 0.75-1. BTC Mayer Multiple, below 0.8 has persisted for nearly 50 days. However, compared to bottom-fishing indicators, the crypto industry's top-selling indicators may be more flexible.

Analysts suggest that Bitcoin may be replaying the 2022 bottom pattern. According to NS3's report, the bottom zone could start from July, lasting approximately two months, and trigger a rally wave in September.