Bitcoin Binary CDD Approaches Breakout That Historically Kicked Off Bull Rallies

Hououin Kyouma
Hououin Kyouma

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.

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Related Questions

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?
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What could happen if the breakout of the binary CDD is successful this time?

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