Bitcoin prices have risen 1.04% over the past week, and have entered a $ 110,600 price range after a wide range of modifications over the past few weeks. In particular, the warm chain data shared by the encryption analyst, Burak Kesmeci, may have found a potential floor with premier Cryptocurrency, and in the next few weeks, the strong potential of the price rally.
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KMFG sends the accumulation signal again. Is this BTC’s next big movement?
In the X Post on September 6, Kesmeci can see the strength of sharing important notes about the Bitcoin market.
The famous analyst reported that Bitcoin’s KMFG indicators officially re -entered the accumulation area for the first time since April 12 and have potentially signed an important moment for long -term BTC investors in the middle. After 147 days, the chain signal, which has been historically notable, is now strengthening optimistic expectations for another price swing.
In Kesmeci’s analysis, KMFG is presented as a customized cryptographic market indicator used to identify potential accumulation and distribution zones using various market dynamics. If the KMFG value drops to less than about 0.3, the accumulation will be signaled to enable the local floor. Conversely, the value of 0.7–0.8 or more indicates the distribution of potential local tops.
KMFG finally signed an accumulation signal in mid -April, as the price of Bitcoin was nearly $ 76,000. Since then, it has been a strong and persistent upward trend, and eventually it has reached a peak at $ 124,000, which is about $ 124,000 in just four months.
According to this week’s signal, Bitcoin once again indicates that it is once again on or near the local floor. The price of the BTC has been integrated in recent weeks, emerging in the range of $ 107,000 -$ 112,500, and KMFG metrics has dropped sharply to the green “accumulation area” on the chart. Historically, such a level was consistent with the initial stage of the upward trend.
As BTC KMFG dives less than 0.3 marks, historical patterns suggest that this can be a major area for investors who have potential rebounding to investors, despite the prudent feelings of the market.
Bitcoin market overview
Bitcoin is reduced by 0.26% last day and traded at $ 110,601. In the monthly chart, Premier Cryptocurrency reports that the loss of 5.4%is greater, reflecting the dominant sales pressure in the current market.
According to the data from Sentora, an analytical company, the total bitcoin network fee is 53.4% higher than last week, up to $ 3.7 million, to increase network demand. Meanwhile, Exchange Outflows has reached $ 7.5 billion, and in the long -term price audit of assets, we can see the strong market trust among BTC investors.
PEXELS’s main image, TradingView chart
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