Basic Points:
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Bitcoin is not a line to cancel its attack at all times high, says the Bitcoin Fundamental Index (BFI).
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BTC price strength remains “whole,” says Swissblock technologies, eliminating the risk of a double top.
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Historically, a return within 10% of all time highs delivers price detection almost every time.
Bitcoin (Btc) is not at risk of a “double top” bull market reversal along with the trip this past $ 107,000, says the new review.
In one of these Latest X updatesSwissblock Technologies’s private wealth manager described BTC price strength as “whole.”
BTC price indicator ignores the double top “noise”
Bitcoin shows “no signs of difference -variety of bearish,” as seen by the lens of a basket of network indicators.
Commenting on the latest signals from the Bitcoin Fundamental Index (BFI), the Swissblock argued that despite less than $ 5,000 from all time high, BTC/USD did not soon leave its pushing price discovery.
“There is a lot of noise about a potential double top while $ BTC struggles to break the ATH,” it summarizes.
BFI combines various existing indicators in a single oscillator to provide insight into the treasure of a given price point.
Since August 2024, BFI has been strictly strictly in the central territory around the 50/100 mark, regardless of price action.
“Even during the February pullback, it will be held neutral, never sinking in weakness,” the post note.
The Swissblock explained that if the BTC/USD is reversed now and lower headaches, leaving all the time unchanged, the BFI will “be destroyed.”
“On-chain strength is intact,” it concludes.
“Bears: Not at this time, have to wait.”
Statistics favor the Bitcoin Bulls
That view has participants in most popular participants in the crypto market this month.
Related: $ 107K fake or new all-time highs? 5 things to know in bitcoin this week
Number Cointelegraph continues to reportPrice discovery is expected to re -reenter earlier than the latter, with a BTC price target for this week of $ 116,000.
In that topic, network economist Timothy Peterson used statistics analysis to think of at least $ 115,000 by the end of June.
“Bitcoin was pulled out within 10% of this whole time,” part of his own x post From May 9 reading.
“What happens next? This has happened almost 300 times since 2015. In 50 days, Bitcoin has created a new all-time high of 98% of the time.”
Peterson acknowledged that post-2020 acquisitions were more modest than the previous ones, with an average of 8% transfer that provides BTC/USD with a target of up to $ 125,000.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
