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Bitcoin will consolidate in the range of $25,000 – $26,000. This is indicated by Santiment data and market indicators.
The BTC rate rose above the highs of January. Cryptocurrency is more volatile than usual. This does not stop investors. In 2 months, 1.7 million addresses appeared on the Bitcoin network. That’s a 4% increase, Santiment says. Total addresses – 45.2 million.
AMBC analyzes numbers Saintly and signals. Recently, bitcoin has experienced uncertainty. It fluctuated above and below $25,000. In 6 days, the price of BTC rose by 30%. Trading now at $26,000 – $26,100. This is bullish.
Bullish sentiment is confirmed by the daily frame. MACD – moving average crossover. And it indicates an uptrend. RSI – relative strength index. His figure is 67 out of 100 points. This is an overbought zone, a bullish sign.
Not only the rate and the audience of investors are growing. The supply of coins on the exchanges has increased. They talk about it in Alicharts. In 5 days, 50,000 BTC worth $1.2 billion were transferred to exchange wallets. There are 1.3 million BTC available on exchanges.
An increase in supply indicates liquidity. This is beneficial when the number of addresses grows. But if the value of BTC falls, supply will outstrip demand. This is an extra hit.
If the current balance is maintained, reliable support for BTC will be in the range of $25,000 – $26,000, according to AMBC.
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