According to the data of Digital Asset Analysis Firm Glassnode, Bitcoin $83,287.54In the recent period, technical signals reveal that the market may show possible long -term downward movement. The technique is based on the comparison of average prices (VWAP) with volume weighted for the last month and six months.
Bitcoin may have a drop
According to Glassnode, the VWAP indicator reflects the average price calculated considering the volume of transaction at a certain period of time. This method offers a different perspective compared to traditional technical analysis tools, as it provides the opportunity to monitor market sensitivity more directly.
Recently, the increasing sales tendency in short -term investors may have triggered this decline expectation.
Expert Reviews Bitcoin
Glassnode says VWAP, which is calculated in the last month, has started to watch under the six -month calculation. This shows that the market momentum has been weakened and a situation similar to this indicator in the past has been reported to follow the periods of decrease that lasted three to six months.
Glassnode: “As On-Chain Analogy, the 30-day VWAP’s falling below the 180-day VWAP reflects a weakening momentum. In the past, this formation has been seen before the negative market movements that continued for three to six months.”
Regarding the same analysis method, the company says that it aims to adapt the concept of traditional “Death Cross ı to market sensitivity using on-achain data. This method includes a more comprehensive analysis, taking into account when and how much capital moves.
Glassnode: “This approach directly reflects market sensitivity by using On-Chain price data. It is possible to obtain more realistic data by taking into account both time and transaction volume.”
Bitcoin was traded around $ 82,040 at the time of the latest data, while the last 24 hours of 5 %loss of value. Recently, Young Ju also said that we had technically entered the bear markets and that we would decrease 6-12 months.
The results of the analysis include warnings that the market trend in the light of past data may be continuous.
In general evaluations, the data obtained by analysis method offers an alternative approach to measuring market sensitivity. The data offered by the method can be additional information for investors who want to evaluate risks and develop strategies.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
