#加密行情震荡 Bottom not confirmed: Bitcoin hovers around $70,000 as three new signals emerge

From the short-term chart perspective, Bitcoin is forming a technical pattern similar to March 6-8, when the price rebounded after a pullback. If it quickly recovers above $70,000, it could open a trend towards $76,000, with the key turning point at $72,000. If it breaks below $68,300, it may test $65,000 to $62,000. BTC could potentially break below 60,000.

From the all-time high of $126,000 in October last year to the current fluctuations around $70,000, BTC's price has been on a rollercoaster over just a few months.

Three new signals📶

1. MVRV Z-Score, collective shift in anchored value system
2. Ahr999 Index (9-god Index), sub-0.45 bottom-fishing zone has continued for nearly 50 days
3. SOPR, STH-SOPR continuously below 1, LTH-SOPR continuously at 0.75-1.4. BTC Mayer Multiple, below 0.8 has lasted nearly 50 days. However, compared to bottom-fishing indicators, the crypto industry's top-escape indicators may be more flexible.

Analysts suggest that Bitcoin may be replaying the 2022 bottom pattern. According to NS3 report, the bottom zone may start from July, lasting approximately two months, and trigger a rally in September.