Bitcoin’s Bull Market Structure Remains Intact Above Gaussian Channel
Bitcoin is currently trading around $107,000 following a recent flash crash. Despite short-term volatility, its macro bull structure remains intact.
Key Observations
- The Gaussian Channel analysis by Titan of Crypto indicates Bitcoin's long-term trend strength as it stays above the channel.
- The upper band of the Gaussian Channel is at $101,300, trending upward. Bitcoin's price action suggests a temporary pause in a larger bull market.
- Titan of Crypto emphasizes the Gaussian Channel as a macro context indicator, not a direct trading signal. It should be used alongside other indicators like trading volume and moving averages.
Coinbase Premium Gap Analysis
- The Coinbase Premium Gap, which compares Bitcoin’s price on Coinbase to other exchanges, turned red, falling from +60 to -40.
- The gap has since increased to around -10, indicating renewed bullish sentiment among US investors.
- This metric should be considered with other data such as ETF inflows, trading volume, and liquidity for a comprehensive analysis.
As of now, Bitcoin trades at $107,120.