BTC indicators show a "partial bottoming out"

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BlockBeats News, on August 12th, BTC issued its third 'local bottom' signal in 2024. According to the latest research released by the on-chain analysis platform CryptoQuant on August 8th, the Network Value to Transactions (NVT) Golden Cross (NVT-GC) tool showed a bullish trend. BTC's price has experienced an 'excessive cooling'. This week, BTC faces a warning of another price drop as the Moving Average (MA) has formed a so-called 'death cross'. However, other market indicators call for a continued rebound. One of them is NVT-GC, which CryptoQuant describes as a volatility indicator similar to Bollinger Bands. NVT compares BTC's Market Cap with its transaction value within a specific time range, while the Golden Cross version compares long-term and short-term NVT values. The result is a rough guide to local market tops and bottoms, and three such bottom signals have already been generated in 2024.

BTC-1.98%
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Earn30MillionAndWithdraw.vip
· 2024-08-12 11:12
All in All in 🙌
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Earn30MillionAndWithdraw.vip
· 2024-08-12 11:12
Ambush 100x coin 📈
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