Analyst: BTC is approaching a temporary top, and potential profit-taking pressure is increasing.

robot
Abstract generation in progress

ME News Report, May 17 (UTC+8), market analyst Ali posted on X platform stating that Bitcoin is currently showing signs of “overheating,” with data indicating that the average realized profit rate of traders has risen to 17%, which means that a large number of investors are in significant profit, and the potential profit-taking pressure is increasing. The last time similar conditions appeared was in March 2022, when Bitcoin tested the 200-day moving average resistance level and the average profit rate also reached 17%, after which the market formed a cyclical top and re-entered a downtrend. Currently, this historical signal has reappeared, and the market should be highly alert. (Source: ChainCatcher)

BTC0.74%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned