Bitcoin’s [BTC] mid-term recovery depends on these break-even areas
Bitcoin’s potential to rise above $30,000 would depend on the $27,500 to $29,000 break-even zone. But short-term holders may not have a say....
- Bitcoin's MVRV ratio indicates bullish potential for the long term.
- Short-term holders are at a disadvantage due to lack of confidence in the market.
- Bitcoin's potential to rise above $30,000 depends on breaking the $27,500 to $29,000 zone.
- The longer Bitcoin stays below $27,500, the longer it may take to recover.
The overall sentiment of the article is positive, highlighting the potential for Bitcoin's long-term growth. However, there is also a warning about the risks associated with Bitcoin remaining below certain price levels.