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This is the “value zone” for Bitcoin, while BTC, according to on-chain analyst Will Clemente

On-chain analyst Will Clemente reveals the level around which the price of Bitcoin (BTC) will likely move.
Clemente first informs his 493,900 Twitter followers that a Bitcoin price between 45,000 and 40,000 US dollars qualifies as a “Local Value Zone” under the prevailing market conditions.

“… Personally, I see mid to low 40s as a local value zone, while ~ 53K recovery is gaining momentum again.

In this sense: A purchase above this would be a purchase if you get going again after leaving a value zone. “

A value zone or value area is the level around which most trading volumes occur.

Clemente also says “pressure” is building on Bitcoin after the flagship crypto asset fell over 15% in 30 days. Bitcoin is trading at $ 47,724 at the time of writing.

“The pressure is building up for BTC.

The question is when and in what direction will it be released?

The question asked here is rhetorical. To try to understand the aggression of positioning, we monitor derivative data such as funding, liquidation level, long / short ratio, etc.
This is the “value zone” for Bitcoin, while BTC, according to on-chain analyst Will Clemente, Crypto Trading NewsSource: Glassnode via WClementeIII / Twitter
This is the “value zone” for Bitcoin, while BTC, according to on-chain analyst Will Clemente, Crypto Trading NewsSource: Glassnode via WClementeIII / Twitter
This is the “value zone” for Bitcoin, while BTC, according to on-chain analyst Will Clemente, Crypto Trading NewsSource: Glassnode via WClementeIII / Twitter
This is the “value zone” for Bitcoin, while BTC, according to on-chain analyst Will Clemente, Crypto Trading NewsSource: Glassnode via WClementeIII / Twitter
A funding rate above zero indicates the prevailing sentiment is bullish, while a negative rate indicates that the prevailing sentiment is bearish.

A rising funding rate also indicates an uptrend, while a falling funding rate indicates a bear market.

If the long / short ratio or open interest rises, it means that the prevailing price trend is supported, while the opposite is the case with a falling open interest.

Liquidation levels can affect the price either way as they can potentially result in a short squeeze or a long squeeze.
Check price promotion

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Source: Crypto News Deutsch

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