New Alpha Price Metric for Identifying Bitcoin's Support and Resistance Levels

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by Giorgi Kostiuk

2 years ago

The analytics firm Alphractal has introduced the Alpha Price metric, designed to identify critical support and resistance zones for Bitcoin.

Innovative Metric by Alphractal

Alphractal has described its Alpha Price metric as a powerful tool for identifying Bitcoin's support and resistance zones. Currently, Bitcoin is approaching the second upper line, which has consistently prevented the price from exceeding since December 2024.

How Alpha Price Works

The Alpha Price metric analyzes the profitability of Bitcoin's short-term holders (STH) and long-term holders (LTH) relative to the overall market price. Developed by crypto analyst João Wedson, this concept uses Fibonacci-based factors to map key levels. The Alpha Price represents the upper limit, a line rarely exceeded by Bitcoin in history. Lower levels derived from Fibonacci calculations provide key support zones when the market turns.

Key Levels and Warnings

As Bitcoin tests the second upper line of the Alpha Price metric, Alphractal has identified several potential support levels in case of a pullback: * $84,700 * $72,600 * $63,600 The firm warns that the Alpha Price metric is dynamic, with its levels adjusted daily based on on-chain data. If the price does not continue its upward trend, these zones will serve as key support levels.

Alphractal's Alpha Price metric offers a new perspective on identifying support and resistance levels for Bitcoin, providing traders with valuable market analysis data.

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