Bitcoin spending over three weeks in the $30,000 range is proving a crucial test for one of its best-known price models
BTC price action has hovered in a lower corridor between $30,000 and $40,000 since mid-May. This has worried day traders, while vintage bulls have called for calm and a long-term mindset
a nice short squeeze and V-shaped bounce back to $54K (+69%) would result in then bounce back scenario
stock to flow model is at historical support good chances to bounce back up
BTC price action has hovered in a lower corridor between $30,000 and $40,000 since mid-May. This has worried day traders, while vintage bulls have called for calm and a long-term mindset
a nice short squeeze and V-shaped bounce back to $54K (+69%) would result in then bounce back scenario
stock to flow model is at historical support good chances to bounce back up
Comment:
It can do both short and long targets