Bitcoin Short-Term Holders Approach Critical Profitability Threshold
- Profitability Signal Approaching: The Short-Term Holder Spent Output Profit Ratio (STH SOPR) for Bitcoin is nearing the critical threshold of one, a metric that historically indicates potential shifts in market sentiment and could trigger bullish momentum changes.
- Market Sentiment Shift: The current rise in STH SOPR suggests that investors holding Bitcoin for less than 155 days are reducing loss-driven selling, reflecting an improvement in sentiment among market participants, which may drive prices higher.
- Historical Cycle Impact: Historical data shows that during the 2018-2019 bear market, sustained periods below the baseline of STH SOPR typically preceded subsequent recoveries, while the 2020-2021 bull market maintained the metric above one during upward trends, indicating that current market dynamics should be analyzed within this context.
- Multi-Indicator Validation: Market analysts typically examine multiple indicators, including long-term holder behavior, exchange flows, and miner activity, and current complementary patterns in other on-chain indicators enhance confidence in the market trend suggested by STH SOPR.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36142.556 | 48071.278 | 60412.576 | 72341.298 | 84682.596 | 96611.318 | 108952.616 |
| Fibonacci | 48071.278 | 57342.426 | 63070.15 | 72341.298 | 81612.446 | 87340.17 | 96611.318 |
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