Could Bitcoin [BTC] be on course for another green weekend

Analyst suggests that BTC could get a key breakout in the short term. The Bitcoin network value remains expensive relative to the price but the coin could still hit a yearly crest. Since 2023 began, a number of weekends have acted as stepping stones for Bitcoin’s [BTC] production of green bars. Interestingly, the 11-13 March […]

that the BTC might not stall its movement at $26,000. Thielen based his judgment on his technical analysis. There, he showed that BTC has long-term support.Besides, the chart revealed that the mid-term downtrend could be over. And a short-term breakout at $25,817 was already in motion. According to the analyst, BTC had the potential to end up at $28,000 soon.There have been calls for the king coin to hit $30,000 before any other.

At press time, the circulation NVT was extremely high at point 538. A high circulation NVT indicates that an asset’s network valuation is higher than the current value displayed on the network.Source: SantimentHowever, the NVT condition did not totally cancel the possibility of a further uptick for BTC. This was because whales’ interest in the coin remains intensified.

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