Bitcoin is firm at press time, finding support from around the $56,300 to $57,000 zone, looking at the performance in the daily chart. Technically, sellers have the upper hand from an effort-versus-result perspective.
For the short-term trend to change, prices must peel back the losses of September 1. At the same time, the leg up must be with expanding trading volume.
Currently, Bitcoin might be steady. However, the accompanying engagement, looking at the September 2 bar, is light.
What’s required is a sharp uptick in trading volume to assuage fears and assure optimistic traders that buyers are back in the picture.
Bitcoin Expands, Puell Multiple Ratio In Neutral Zone
Even as Bitcoin tries to find its footing, one analyst, citing on-chain data, thinks it is too early to celebrate. The expansion today didn’t rapidly lift the Puell Multiple plotted by CryptoQuant.
The reading stands at 0.65 and is within the 0.6 and 0.8 range. At this zone, Bitcoin remains neutral. As
We współpracy z: https://bitcoinist.com/bitcoin-higher-on-chain-indicator-says-wait/
