Will Bitcoin (BTC) Hold the Confluence Floor Model at $27,688? - BitcoinEthereumNews.com
Bitcoinक्या बिटकॉइन (BTC) कंफ्लुएंस फ्लोर मॉडल को $27,688 पर बनाए रखेगा?05 / 13 / 2022बिटकॉइन एथेरियम समाचार The cryptocurrency market – like most traditional markets – is experiencing a strong crash. Most of the levels at which analysts expected a rebound for Bitcoin has already been lost. BTC is today firmly below the summer 2021 lows of $29,000. However, some are still pining their hopes on one model that offers a chance to stop the dramatic decline. This is the Confluence Floor Model, created by popular crypto market analyst @TheRealPlanC। BeInCrypto wrote about this model when it was first presented two months ago. The Last Hope: Confluence Floor Model The Confluence Floor Model is developed from three independent floor models that are based on on-chain indicators. According to PlanC, its historical effectiveness is much greater than the traditionally accepted 200-week moving average (200D SMA), which usually marked the area of the absolute bottom for BTC. It is worth noting that the 200D SMA is located today at $21,839. So where does the Confluence Floor Model predict a possible bottom for Bitcoin? According to a कलरव published today, the chart of the indicator reached $27,688 today. This means that the price of BTC near $28,000 at