Bitcoin: High Conviction Holders Turn Sellers
Bitcoin high conviction holders sell as price hits new lows at $65668.84 with bearish 4h EMA50 at $71830.35 and RSI 21.4 oversold.
SourceAnalysis
Bitcoin high conviction holders are turning into sellers as the crypto's price hits new lows at $65668.84. On-chain metrics high conviction Bitcoin holders capitulation mirrors Bitcoin long-term holder supply trends historical bear markets from the past year. The 4h chart shows price locked in a bearish trend below EMA50 resistance at $71830.35 and EMA200 at $75517.8, with RSI(14) at 21.4 flashing oversold conditions and MACD at -2035.07 confirming the death cross, while price trades inside Bollinger bands targeting lower support at $63960.94 before any bounce.
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