$BTC Bitcoin is still at the lower boundary of the new buyer cost zone, lacking clear upward momentum.
Brothers, this set of data from Glassnode is worth savoring.
The current Bitcoin price is at the lower boundary of the new buyer cost base, which is in the range of $60,000 to $70,000. What does this indicate? It indicates that many recent entrants are currently near the cost line, and some are even experiencing slight losses.
From the chip structure perspective, there is indeed capital quietly accumulating in this range, which is a good phenomenon and has the potential for bottom formation. But the problem is that the density of chip accumulation is not thick enough; compared to the historical 'foundations' before several strong rebounds, we are still lacking some heat at the moment.
In other words, this position has support, but the upward momentum has not been fully activated yet. My judgment is: the probability of a direct V-shaped reversal is low; it is more likely that it will grind in this area repeatedly to wash out the hesitant chips, allowing for more thorough turnover.
In terms of operations, I do not recommend blindly chasing high in the short term. Steady brothers can accumulate in batches at lower prices, focusing on mid-to-long-term layout opportunities around $60,000. Manage your position well, leave enough bullets, and wait for the structure to solidify; it won't be too late to go heavy once the right-side signal comes out.
Patience at this position is more important than gold.
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