Bitcoin Binary CDD Approaches Breakout That Historically Kicked Off Bull Rallies
NewsBTC
17 Mar 2023 8:00 PM
On-chain data shows the Bitcoin binary CDD is currently nearing a breakout that has marked the start of bull rallies in the past. Bitcoin Binary CDD Has...
- The Bitcoin binary CDD is currently inside the "accumulation zone"
- The binary CDD is a metric that tells us whether the current value of CDD is higher than the average or not
- The accumulation zone occurs below a value of 0.3, suggesting that long-term holders aren't showing much selling/moving activity and are accumulating the cryptocurrency
- The metric has seen some rise again and is approaching the 0.30 line after being in the accumulation zone for 529 days
- If the breakout is successful this time, then this Bitcoin rally could see a big boost
The article has a positive sentiment as it discusses the potential for a Bitcoin rally and a big boost in value.
You May Ask
What is the binary CDD and how does it relate to Bitcoin?What is the accumulation zone and what does it suggest about long-term holders?How has the binary CDD trended before previous Bitcoin rallies?What is the current value of Bitcoin and how has it changed in the last week?What could happen if the breakout of the binary CDD is successful this time?