I see some signs of bears again. Daily & 4h timeframe is want to have a deadcross on stoch rsi. Rising wedge and HnS potential
This would lead to fake rallies, I see article on glassnode.. it says
"Most important to watch is whether SOPR holds above 1.0. Should SOPR continue to trade higher, this reflects a bullish scenario where the market is adequately absorbing profits realised on spent coins. If on the other hand, SOPR falls and trades back below 1.0 on a sustained basis, it would suggest a general weakness in the market and potentially a fake-out rally."
Source : Glassnode Studios The Week On-chain (Week 32, 2021) (search on google)
This would lead to fake rallies, I see article on glassnode.. it says
"Most important to watch is whether SOPR holds above 1.0. Should SOPR continue to trade higher, this reflects a bullish scenario where the market is adequately absorbing profits realised on spent coins. If on the other hand, SOPR falls and trades back below 1.0 on a sustained basis, it would suggest a general weakness in the market and potentially a fake-out rally."
Source : Glassnode Studios The Week On-chain (Week 32, 2021) (search on google)
