Bitcoin bull market peak forecast: the current has not yet broken the key Resistance Line

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CryptoChan2024/11/20 10:11

By:CryptoChan

Bitcoin bull market peak forecast: the current has not yet broken the key Resistance Line image 0

The eight major bull market peak indicators in the history of Bitcoin are now fully presented! The contrast between the current Bitcoin price and key peak indicators is particularly evident: the deviation-corrected MVRV price is $118,634, the Fibonacci peak price is $120,239, the tradable realization price is $138,034, while the Delta peak price and computing power price are $164,166 and $183,281, respectively. In addition, the end point price and heat map price are close to $183,344 and $185,031, while the highest top price is as high as $391,566.

Historical data shows that the peak of the Bitcoin bull market is usually accompanied by the price breaking through multiple key resistance lines. At the bull market peak in 2011, the coin price broke through 5 lines; in 2013, the two peaks broke through 5 and 7 lines respectively; the bull market peak in 2017 also broke through 7 lines, and the first peak in 2021 broke through 5 lines. In contrast, the current Bitcoin price has not yet broken through any resistance line, which may suggest that the market is still in the early stage of accumulating energy and is worth continuing to observe in the future.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.