An outstanding cryptographic analyst Ali Martinez identified directly vital levels of Bitcoin (BTC) prices using the MVRV range of extreme price bands. In particular, the most vital cryptocurrency remained in consolidation from USD 101,000 to USD 104,000 for most of the week, despite the news about the 90-day break between the US and China.

Price teams: next resistance at USD 116,900, support for USD 98 131

Bitcoin MVRV Extreme Delaction Pasm are statistical bands based on standard deviations of the MVRV coefficient from its historical average. They facilitate identify extreme transplantation and lust on the Bitcoin market, and therefore are useful tools in indicating the levels of resistance and support.

According to The chart is presented Ali Ali Martinez on May 16, another great resistance of Bitcoin is 116 901 USD, which is in line with the MVRV +1σ band (standard deviation). The price break above this level would mean a risky exaggerated BTC price and an overheated market, which suggests great profit potential.

On the other hand, the immediate support of the Prime Minister Cryptocurrency is around 98 131 USD, represented by the 0.5σ MVRV band. The maintenance of the price above this level would indicate that Bitcoin is in a stubborn valuation zone. On the other hand, the price break below this level would suggest cooling the shoot or open the door to deeper departures.

Meanwhile, the average MVRV syndrome is 79 3,31 USD and serves as an anchor of fair values. If BTC prices fall to this level, it would be an ideal opportunity for accumulation for a potential market reflection. However, the price drops to the lower MVRV strands at -0.5σ (60,590 USD) and -1σ (41 820 USD), would mean the bears retraction and DNA of the cycle.

Bitcoin owners sit at 120% of unrealized profits

From other messages, MVRV Martinez price charts also show that the Bitcoin price is currently $ 45 504. At the current market price, these data suggest that the average BTC investor sits on a significant unrealized profit potential of up to 120%.

At the time of writing, Bitcoin trades at USD 103,529 after a decrease in 0.87% in the last 24 hours and 0.10% over the past week due to the ongoing market consolidation. However, the most vital cryptocurrency increased by 22.62% last week, because the stubborn forces remain dominant.

Currently, the next Bitcoin resistance lies at USD 105,000, convincing the price above, which may stimulate the further enhance in the highest level in history by about USD 109,000. If BTC successfully breaks both levels of resistance, it will enter the territory of discovering prices, potentially accelerating profits in relation to the expected goal of about USD 117,000.

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