Bitcoin on-chain analysis shows 'good things are happening' but BTC price gains are not guaranteed as a result.
BTC price gains are not guaranteed as a result, but promising on-chain signals show "good things are happening" for Bitcoin bulls, analysis says.on Oct. 17, Caleb Franzen, senior analyst at Cubic Analytics, drew attention to two moving averages now forming the BTC price battleground.BTC/USD 1-week chart with 200-week SMA, EMA. Source: TradingView
For Franzen, this is an important feature to note on weekly timeframes, and constitutes one of several encouraging characteristics of the BTC/USD chart. Currently around $26,900, much attention has been given to the metric in 2023 thanks to its ability to act as market support.
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