๐Ÿš€๐Ÿ“Š Key Bitcoin Indicators Suggest $100,000 Is Not BTCโ€™s Final Stop This Cycle

David Tevzadze - Dec 15 '24 - - Dev Community

๐Ÿ’Ž $BTC at $101,449: Bitcoin recently hit $100K, sparking debates about a cycle top. On-chain metrics suggest BTC has more room to grow despite current consolidation.

๐Ÿ“Š Bullish Indicators: The MVRV long/short difference at 27.25% signals a bull market but remains below Marchโ€™s 42.08%, indicating potential for new highs above $103,900.

๐Ÿ“ˆ RHODL Ratio: Bitcoinโ€™s RHODL ratio is above the green zone (market bottom) but below the red zone (cycle top), implying further upside potential for BTC.

๐Ÿš€ Bull Flag Breakout: BTC has broken above a bull flag, a bullish technical pattern, signaling a possible rise to $112,500. A drop below the flagโ€™s lower boundary could invalidate this.

โš ๏ธ Key Levels: If indicators turn bearish, BTC could retrace to $89,867. Watch these metrics for the next big move.
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