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Cryptographic analyst Crypto Credibull He has revealed that Bitcoin’s open interest has crashed in a minimum of six months. The analyst also explained what happened the last time this low open interest happened while providing a bullish perspective for flagship cryptography.
Bitcoin’s open interest is 6 months under 6 months
In a X publicationCredibull Crypto revealed that Bitcoin’s open interest is at the lowest levels in which he has been in six months. He pointed out that the price of BTC was quoting between $ 50,000 and $ 60,000 the last time the open interest was so low. The analyst also revealed that Bitcoin’s financing rate simply marked negative. He also pointed out that the same thing happened while the flats were quoted between $ 50,000 and $ 60,000 just before his Rally at $ 100,000.
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Interestingly, Credibull Crypto said that these metrics in general are “fantastic” for Bitcoin and further solidified their belief that flagship cryptography has formed a background. In fact, BTC seems to have formed a background since the bad cryptography has recovered up to $ 95,000 after its fall Below $ 80,000 last week.
Cryptographic analyst Ali MartÃnez He also suggested that Bitcoin’s price has found his butt. In an X position, he pointed out that historically, BTC tends to recover when the daily relative force index falls below 30. He then revealed that the RSI was sitting at age 24, indicating that the flagship cryptography had touched and was due to a rebound.
BTC must be maintained above this range to confirm reversal
However, despite Bitcoin’s bounce up to $ 95,000, Credibull Crypto suggested that market participants should not be too excited. He said the bomb does not mean much unless BTC erases the Key resistance in around $ 93,000. The analyst commented that advancing to this range was the easy part, but the “strength” is overcoming.
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Cryptographic analyst Crypto titan It also echoed a similar feeling. He said Bitcoin is currently pushing for $ 94,000, breaking over the Kumo cloud. The analyst added that the bad cryptography should be maintained above this price level before the investment can be confirmed.
However, Titan of Crypto still provided an upward perspective for the price of Bitcoin, suggesting that a reintegration could be about to occur, which could send the flagship cryptography to a marked phase. His accompanying table showed that BTC could meet above $ 126,000 when you enter this phase of marking.
Meanwhile, MartÃnez revealed that Bitcoin Bull’s career remains intact according to the Asorp indicator. He also declared that global liquidity is increasing again, and with BTC lagging behind this metric, the analyst commented that this could indicate a unique purchase opportunity.
At the time of writing this article, the price of Bitcoin is quoted to around $ 91,000, more than 6% in the last 24 hours, according to data of coinmarketcap.
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