Bitcoin's Defensive Stance Endures Amid Discounted Valuation
Bitcoin has maintained its defensive stance for two weeks at 30/100 on the Glassnode Market Compass. This indicator measures market health and resilience, with a higher score indicating a stronger position.
The +24 monthly lift in valuation is one factor contributing to this score, but it remains discounted at the cycle's end, scoring only 16/100.
Crypto flows remain light, but this setup could be considered cheap and potentially improving for BTC price prediction models. The current trading price of BTC on the 4h chart is $64,257.22, with key technical levels including upper resistance at $64,701.59, EMA50 support at $63,729.01, and EMA200 at $63,780.37.
The RSI(14) stands at 62.94 and MACD(12,26) at 242.25, confirming the golden cross, a positive technical signal.