At the time of writing, Bitcoin prices had reclaimed the $33,000 level for the first time in over a week. The king of crypto has made 1.5% on the day, building on yesterday’s momentum following a week of selling pressure.
Analyst ‘CRYPTO₿IRB’ [@crypto_birb] has observed that there has been a complete reset on trend and momentum.
Analyzing the net unrealized profit/loss (NUPL), a measure of the difference between unrealized profit and unrealized loss to determine whether the network as a whole is currently in a state of profit or loss, the analyst added:
“NUPL suggests it’s as oversold as in September 2019 or September 2020 when it was trading at 6-9k usd. We’re lucky if we get 23-24k but market is ready for major bounce and final leg up in November-December imo,”
