BITCOIN UPDATE
Bitcoin is currently trading at $42,202.29 and has been showing no confirmations whether we are still in a bull cycle or have started the dreaded bear market. But we have the charts to look at to balance our wavering sentiments.
According to the 200-Week Moving Average Heatmap, we haven’t had the top yet, and are still in accumulation.
Also, I’m bringing up this new chart, Active Addresses Sentiment (link here). Having the yellow line touch the red dotted line means the market is overheated and is likely to have price dumps later on. On the other hand, the green dotted line implies a short-term bearish sentiment but also has been a great sign of price rally soon after.
As of now, we’ve got varying opinions from long-term and short-term traders/investors, which are you — bull or bear?
What are your thoughts on these charts? Comment down below.
For more charts relevant to market top readings, stay tuned. 😉
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE.
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Elisa A.
Elisa is our Head of Market Analysis at Rocket Crypto X
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