BaroVirtual2022-12-21

A warning signal about the likely next decline in Bitcoin.

After the recent fall in the price of Bitcoin to around $16,400, Bitcoin is still in a state of short-term instability. Still, the Ribbon indicator built based on the MVRV Ratio warns of the danger of a possible next round of decline. In the coming days, the MVRV Ribbon (3MAs) may complete the formation of a bearish cross, which may lead to another short-term bearish correction.