On-chain analysis platform CryptoQuant analyst Grizzly suggested that Bitcoin (BTC) has formed a unique formation and a prolonged bullish move could begin.
Analyst Grizzly pointed to a unique bullish pattern for Bitcoin. Analyst on long-term BTC chart 200-day moving average And realized priceStating that we are at a rare point where .
Describing the current price band as a long-term bottom level, Grizzly said that this formation is the latest 2019, 2015 And 2012 years, and then Bitcoin’s a long-term rise reminded me of the trend.
Adding the 200-day moving average line (in blue) and the actual price (in orange) to the long-term Bitcoin chart, a pattern seen in market bottoms before can be noticed.
On the other hand, pressure on high-risk asset markets macroeconomic factors Underlining that it is very important in this scenario, the analyst added that the uncertainty on the markets is not over yet.
CoinGecko according to data in the last 24 hours BTC losing 1.4%at the time of writing the news from $21,630 is being traded.
