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Glassnode Shares Its Downward and Upward Expectations on Bitcoin! Here are the Levels to Follow!

Jul 4, 2024 #仮想通貨
Glassnode Shares Its Downward and Upward Expectations on Bitcoin! Here are the Levels to Follow!

AnalyzingGlassnode’sexpectations forBitcoin’sprice movements and key levels tomonitor.

Points

  • Bitcoin’spriceremainsbelowitsATH,withsellingpressureincreasing.
  • Keylevelsat$60,000and$64,000arecriticalforfuturepricemovements.
  • Investorsentimentiscrucialforpotentialpricerecovery.

Bitcoin’sprice remains18%below itsall-timehigh(ATH)inMarch,with selling pressure increasing as the market experiences apathy andboredom.Glassnode,anon-chainanalysisfirm,shares its weekly Bitcoinanalysis,highlighting investor sentiment and key price levels tomonitor.

CriticalPriceLevels

Glassnode analysts identify$60,000and$64,000as crucial levels forBitcoin.A break below$60,000would cause losses for manyshort-termtraders(STH)and likely push the price further down to the200-daymoving average(DMA)at$58,000.However,a break above$64,000could enable a significant portion ofshort-terminvestors to return toprofit,potentially increasing investor sentiment andconfidence.

InvestorSentiment

Investor sentiment remains a key factor inBitcoin’spricemovements.Glassnode notes that new Bitcoin investors have suffered significantlosses,impacting overall marketsentiment.If BTC rises above$64,000,it could restore confidence and drive positivesentiment,leading to potential pricerecovery.

解説

  • Monitoringkeypricelevelsat$60,000and$64,000iscrucialforpredictingBitcoin’sfuturemovements.
  • Investorsentimentplaysasignificantroleindrivingmarkettrendsandpotentialpricerecovery.
  • Understandingon-chainanalysisandkeymetricscanhelpinvestorsmakeinformeddecisionsinthevolatilecryptomarket.