This is a daily analysis by Coindsk analyst and omkar Godbook.
The main technical indicator is an early ending warning for Bitcoin The valve market, even as traders in the center continue to continue at the end of the year.
The indicator is a relative strength indicator (RSI)A momentum of the momentum ranges from 0 to 100. Traders help measuring the speed and size of modern price movements, which are usually calculated for 14 days, 14 weeks or 14 months.
The 24 -month relative index flashes from BTC, and it is now tending to dumping divergence, a pattern that occurs when the index begins to decrease while prices continue to rise. The occurrence of this difference on the monthly graph indicates that the bull btc market may be weak and can move to a declining direction.
The monthly graph shows that although BTC reached the highest new level in the July period to August, bypassing the December summit, the relative strength index moved in the opposite direction, which is the highest level.
The gains of the Difference added importance as it coincides with the confrontation of BTC resistance in the main trend line that was extracted from the previous rising market peaks in December 2017 and November 2021.
To lower the chase, the bulls should remain alert to reflect potential declining trends. However, the latest market flows indicate that traders expect continuous price gains.
“The blocs indicate that traders are preparing to make more gains, with a noticeable activity in December, the spread of BTC calls (125 thousand dollars/160 thousand dollars). “The ETHEREUM concentration was on the top upper side, with a $ 4,800 strike in September, and raised pressure on the front end,” Jake Ostrovsx, an OTC merchant in Wintermute, said in an email on Thursday.
Block flows are large transactions that have been negotiated from the private sector on the meter and outside the public request book. These transactions usually include high -value institutions and individuals.
The proliferation of the December call mentioned in Ostrovskis is mainly betting on prices of up to 160 thousand dollars and higher by the end of the year. The consensus is for the continuation of the assembly at the end of the year and beyond, with prices reaching It reaches 190,000 dollars. As of writing this report, BTC changed its hands near $ 110,500, which represents a 4.6 % loss for this month, according to Coindsk data.
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