Bitcoin: Deep Value Zone Marks Cycle Bottom
Bitcoin enters deep value zone with 10% historical time spent there at $77011.79, signaling major bottoms amid bullish 4h EMA structure.
SourceAnalysis
Bitcoin is the cheapest it has ever been, according to @CryptoMichNL, who highlighted that the asset has spent only ~10% of its history in the Deep Value zone historically tied to cycle bottoms.
Price action on the 4h chart shows BTC at $77011.79 inside Bollinger Bands with upper resistance at $81688.19 while RSI(14) at 79.46 flashes overbought, suggesting a healthy retracement to EMA50 support at $69631.59 before continuation as MACD golden cross at 3167.75 reinforces the bullish trend structure above EMA200 at $65749.47.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast