Glassnode Unveils Bitcoin Cycle Position Composite, Price Eyes Bullish Support

Bitcoin's price dynamics have taken center stage with the launch of Glassnode's Bitcoin Cycle Position Composite within Market Compass. This tool provides a comprehensive view of the market, complete with heatmap and snapshot charts that are updated daily and included in all Advanced and Pro subscriptions.

The current price of $65,160.33 is seen as part of a bullish structure, with the EMA50 at $64,139.11 and EMA200 at $63,655.86 acting as layered support. Meanwhile, BTC is pushing against the upper Bollinger band at $65,116.91 while the RSI(14) holds at 65.27 and MACD prints a golden cross at 278.17.

According to historical on-chain analysis of Bitcoin halving cycles, it appears that a measured pullback toward the 50-EMA is likely before the next leg higher in this phase.