Bitcoin’s CVD Score Signals Strong Buying Support
- The CVD Confirmation Score for Bitcoin is currently between 0.8 and 0.9, indicating genuine buying pressure.
- Past trends show that a score above 0.7 leads to shallow and short-lived price corrections.
- Resistance levels are noted at $124,000 – $126,000, with potential targets as high as $135,000 if surpassed.
- Support levels are identified at $112,000 – $115,000 and $108,000 – $110,000 for BTC.
- Binance shows strong buyer support with real inflows backing the bullish trend.
The current CVD Confirmation Score suggests robust buying activity driving Bitcoin’s price surge rather than speculative moves or technical bounces. This indicates a sustained bullish trend supported by substantial market liquidity.
With Bitcoin trading at $118,791 and the CVD score remaining high, the market shows solid buyer support potentially leading to further gains if resistance levels are breached. (Source)
