Bitcoin Binary CDD Approaches Breakout That Historically Kicked Off Bull Rallies
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.