According to the Rainbow Chart model, the current price range of approximately $95,000 for Bitcoin is identified as a "clearance sale" buying zone. If historical patterns repeat, there is a 60% upside potential, with the possibility of reaching the $150,000 to $160,000 "accumulation" area. Data from analysts show that the selling pressure in the futures market has decreased by 90%, indicating that if net buying resumes, a bullish reversal could occur. However, overall demand for Bitcoin remains weak, with the 30-day average apparent demand significantly declining, suggesting that the bulls lack confidence in a sustained breakout above $95,000.

BTC0.77%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)