Glassnode's data is interesting; after breaking through the cost line from March to June, the 180-day average increase is 36.6%. Based on current calculations, it could reach $100k. But on the daily chart, it's still a bearish flag pattern, so don't FOMO.

View Original
BlockBeatNews
Analysis: $71,400 is a key support level for Bitcoin. If held, a rebound to $78,200 is possible.
BlockBeats reports on May 31st that Bitcoin rebounded from the key support level of approximately $71,400, which is the cost basis for holders of 3–6 months, indicating strong short-term support. If the rebound continues, the target could be up to $78,200, corresponding to the cost basis for holders of 6–12 months. Glassnode points out that since 2017, after breaking through the 3–6 month cost line, the 90-day increase has been about 21.9%, and the 180-day increase about 36.6%. At the current price of approximately $74,000, the targets are around $90,200 and $101,100. The daily chart still shows a bearish flag pattern; if the support line is broken, the price may fall back to $50,000–$60,000.
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