FundingVest
Bitcoin’s Strong Support Zone: The $65,000 – $71,000 Range
Market dynamics indicate that the Active Realized Price is around $71,000. This level excludes long-dormant coins and helps us identify a support level based on more recent market activity. The True Market Mean Price, on the other hand, provides a more accurate estimate, indicating that the $65,000 level is a key support zone. If we define the area between the Active Realized Price and the True Market Mean Price as a zone, we can expect that in the near future, if the price declines, it should meet significant demand in this range. In summary, our current strong and nearby support zone lies between $65,000 and $71,000. Buying Bitcoin within this range could potentially lead to substantial gains. To summarize, the strong support zone for Bitcoin is between the Active Realized Price and the True Market Mean Price. While weak hands may be selling in this area, strong hands are likely looking to accumulate and open new positions.