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The cryptographic analyst Quinten recently revealed that Bitcoin has entered overall levels. However, analyst Dr. Cat has warned that, unlike public opinion, this development is bassist, not bullish, for flagship cryptography.
In a X publicationDr. Cat declared that Bitcoin that enters the oversized levels is “super general” and that overload levels are “super antiremisas.” He explained that for the oscillator to reach survey values, it means that price action He has been extremely bassist, indicating why investors are selling their holdings.
Why Bitcoin that enters the overstelves levels is bassist
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The analyst declared that if an investor buys an overall condition within a lower period when The highest period of Bitcoin It is optimistic, this is a good movement. However, he commented that whoever advises to buy a weekly table on the state of the statement that is optimistic because it is oversized has no idea what they are talking about.
He commented that many alternatives survive within the highest period and can remain overene as they approach zero, where the analyst says they finally go. Dr. Cat also explained that in An upward marketOver -sales conditions in the daily table can mark higher minimums in the weekly or monthly table.
However, in a bearish market, overall conditions can persist or simply lead to some consolidation before more inconvenience. Dr. Cat alluded to the Quinten list, which according to him showed to what daily overall conditions they took a year earlier in different broader market conditions. The analyst warned that he was not discussing whether Bitcoin is in a bull or bears market or where he is directed, but simply clarifying the error about the oversized and overwhest RSI.
BTC’s supply is an overwhelming demand at this time
In an X publication, CEO cryptocant ki yong ju He revealed that Bitcoin’s supply is currently higher than his demand at this time, providing a bearish perspective for badly cryptography. This supports the idea that BTC is in oversight conditions at this time, with the headlines that sell their coins instead of buying.
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Cryptographic analyst Ali Martínez He recently revealed that whales have been obtaining profits during the recent Bitcoin rally, downloading more than 29,000 BTC since April 9. It is worth mentioning that Ki Young Ju recently said that Bitcoin’s upward market has ended, noting that the badge of badge is witnessing a significant sale pressure.
At the time of writing this article, the price of Bitcoin is quoted at around $ 84,600, in the last 24 hours, according to data of coinmarketcap.
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