• BTC witnessed a price correction causing its value to drop below $26,000.
• Metrics revealed that investors accumulated more BTC during every price correction.

Bitcoin [BTC] has remained pretty dormant for quite a few weeks, and it failed to breach the $26,000 mark on multiple occasions. The sluggish movement affected the entire market as interest in crypto dropped. However, if metrics were to be considered, there is a possibility of a change in trend in the coming days. 

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This can make Bitcoin’s price volatile 

After reaching $27,000, the king of cryptos’ price witnessed another price correction, once again pushing it under $26,000. According to CoinMarketCap, at the time of writing, BTC was trading at $25,685.36 with a market capitalization of more than $500 billion.

However, CryptoCon pointed out a metric that suggested the possibility of a change in BTC’s price trend. As per the tweet, Bitcoin typically enters a bull market as soon as the weekly Relative Strength Index (RSI) crosses the 50 mark. Historically, after a fake crossover, the weekly RSI, when it rebounds from two support levels, is followed by bull markets.

Typically, the #Bitcoin Bull Market is launched as soon as the Weekly RSI crosses the dashed mid-line.

But every cycle, #Bitcoin makes a fake cross over and fails to star

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Author: Dipayan Mitra

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