BTC Exchange Reserves Continuing to Decline, Net Unrealized Profit and Loss Still In The Capitulation Phase

BTC-Exchange-Reserves-Continuing-to-Decline-Net-Unrealized-Profit-and-Loss-Still

The BTC exchange reserves have decreased over the last few days leading to lower selling pressure. The Net Unrealized Profit and Loss is still in the Capitulation phase. 

The BTC price is testing the lower Bollinger band, which has acted as a magnet in the past. So let's see if it manages to break past; that would be a relatively bullish signal.

The Puell Multiple isn't in the “strong buying area” anymore since it moved to 0.62. You've had a long time to DCA into BTC and ETH over the last few weeks while the Puell Multiple was below 0.5. 
The NUPL is still below 0, which means we are still in “buying territory”; however, it's not as great as when the NUPL was at -0.18, which was very close to the 2020 bottom. Last we have the MVRV. This is still within the “Strong buying” area, below 1
Two out of three onchain indicators indicate that it's still a good time to buy. Ideally, you would have accumulated what you wanted in the last few weeks when the price was boring.