On-chain Suggests Bitcoin’s Capitulation Getting Overheated | BTC Testing 200 Weekly SMA Right Now
On a weekly time frame, Bitcoin has broken down support of $28600 and now testing the weekly 200 simple moving average. History shows, BTC never breaks it down. At the same time, on-chain analysis shows that Net Unrealized Profit/Loss chart is getting overheated, which means that now the capitulation phase can be ended soon. Watch detailed analysis in the video.
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