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

From the short-term trend chart, Bitcoin is forming a similar technical pattern to March 6-8, when the price rebounded after a pullback. If it quickly recovers above $70,000, it may trigger a move toward $76,000, with the key turning point at $72,000. If it breaks below $68,300, it may test $65,000 to $62,000. BTC may break below 60k

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

Three New Signals📶

1. MVRV Z-Score, collective shift in anchored value system
2. Ahr999 Index (9 God Index), buying opportunity zone below 0.45 has continued for nearly 50 days
3. SOPR, STH-SOPR continues below 1, LTH-SOPR continues at 0.75-1.4. BTC Mayer Multiple, below 0.8 has continued for nearly 50 days. However, compared to buying indicators, the escape peak indicators in the crypto industry may be more flexible.

Analysts suggest that Bitcoin may be replaying the bottom pattern of 2022. According to NS3 reports, the bottom zone may start from July, lasting approximately two months, and trigger a wave of increases in September.