Key points:
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Bitcoin is not online to cancel his attack on the summits of all time, explains the fundamental Bitcoin (BFI) index.
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The BTC price strength remains “intact”, explains SwissBlock Technologies, removing the risk of a double high.
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Historically, a return to 10% of the heights of all time offers a price discovery almost each time.
Bitcoin (BTC) is not likely a reversal of the bullish market “double” with its trip after $ 107,000, according to a new analysis.
In one of its latest X updates, the private wealth manager Swissblock Technologies described the strength of BTC prices as “intact”.
The BTC price indicator ignores the “noise” doubles high
Bitcoin shows “no sign of down divergence”, as shown in the lens of a basket of network indicators.
Commenting on the latest signals of its fundamental Bitcoin (BFI) index, Swissblock maintains that despite less than $ 5,000 compared to the peaks of all time, BTC / USD is not about to abandon its thrust in the discovery of prices.
“Lots of noise about a double high potential while $ BTC has trouble breaking ATH,” he summed up.
BFI combines various existing indicators in a single oscillator to provide an overview of the strength of trends at a given price.
Since August 2024, BFI has been glued rigidly on its central territory around the brand 50/100, regardless of the action of prices.
“Even during the withdrawal of February-March, he was neutral, never plunged into weakness,” notes the post.
SwissBlock explained that if BTC / USD should reverse now and go lower, leaving peaks of all intact time, BFI would already be “broken”.
“The chain force is intact,” he concludes.
“Bears: Not this time, he was able to wait.”
Statistics promote Bitcoin bulls
This perspective sounds with that of the majority of popular participants on the cryptography market this month.
In relation: Fakeout of $ 107,000 or new heights of all time? 5 things to know in Bitcoin this week
While Cointtelegraph continues to bring it back, the price discovery should return as soon as possible, with a BTC price target for this week already at $ 116,000.
On this subject, the economist of the Timothy Peterson network used the statistical analysis to assume a trip at least $ 115,000 by the end of June.
“Bitcoin stopped at less than 10% of its top of all time,” reads part of its own May 9.
“What’s going on?”
Peterson acknowledged that post-2020 gains were more modest than those before, with an average move of 8%, which gives BTC / USD a target of up to $ 125,000.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
