BITCOIN RESERVE RISK ON GREEN
The chart for the day is Bitcoin Reserve Risk.
This Bitcoin chart is created to assess the confidence of long-term holders relative to the price of the native coin at any given point in time.
Entering the red zone means confidence in risk-reward potential is low and is directly related when price gets too high or nearing the market/cycle top.
While the green zone shows the best times to buy Bitcoin as this assesses a great risk-reward potential even when the price is deemed at low at a certain period of time.
Also, NVT Signal is still showing a buy signal along with other indicators.
Bitcoin is trading at $42,931.46 (source: Coingecko) at the time of writing with the hourly and daily timeframes showing trend reversal. Bitcoin bottoming since to be on its way to getting confirmed.
Stay tuned. 😉
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE.
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Elisa is our Head of Market Analysis at Rocket Crypto X
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