Bitcoin
Bitcoin – Where are the signs of a local bottom and a price reversal?

- Bitcoin is facing a key resistance at $106k, while testing critical support at $101k
- NVT golden cross at -2.21 historically signals local bottoms and potential price reversal
Bitcoin [BTC], at press time, seemed to be caught in a consolidation phase, with its price action fluctuating between the $101k and $106k range as its struggled to break through key resistance levels. However, an intriguing signal is now emerging from the Bitcoin NVT golden cross metric, with the same dropping to a 60-day low of -2.21.
So far, this has been a strong indicator of potential local bottoms, hinting that Bitcoin could be nearing a price reversal. As market conditions remain uncertain, this metric may provide valuable insight into whether Bitcoin is ready to shift direction.