One of the most famous phenomenon analysts in the crypto community Willy Woocreated a new price model to predict the bottom in Bitcoin.
The famous analyst shared a new post on Twitter with more than a million followers. BTC According to the price model, he predicts that the likely bottom will be “in a range where between 58% and 61% of investors are at a loss”.
Willy Woo, on-chain He named this new Bitcoin analysis model, which he created based on his data, Max Pain.
#Bitcoin bottom is getting close under the Max Pain model.
Historically BTC price reaches macro cycle bottoms when 58%-61% of coins are underwater (orange).
Green shading adjusts for the coins locked up inside GBTC Trust. pic.twitter.com/haIcKlQ3M3
— Willy Woo (@woonomic) November 26, 2022
“According to the Bitcoin Max Pain model, the bottom is approaching. Historically, when Bitcoin bottoms out in a bear market, 58-61% of investors are at a loss in the range. I have highlighted this area in orange. For Bitcoins locked in the Grayscale BTC Trust fund, I use green color.”
famous analyst, Max Pain According to his price model, he expects the bottom to be around $12,000 in Bitcoin.
According to CVDD, another model that Willy Woo has thrown into the background before, he thinks that the bottom may have come in the past days.
The crypto phenomenon is preparing another price model, CVDD, with a calculation over the HODLing time of Bitcoin, which changes hands among investors.
What Does the Big Picture Show in Bitcoin?
Leader cryptocurrency It’s not good news that the unit continues to trade below $19,750, the high of the rally at the end of 2017.
According to the weekly chart, a close above the $17,700-19,700 range is crucial for at least a lasting bullish hope in BTC.
Technically, the weekly close support is at $12,000.
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