Bitcoin (BTC) Price Prepares for Next Potential Surge After Recent High

BTC DMI. Source: TradingView

DMI uses two lines, D+ and D-, to indicate the direction of the trend. BTC’s D+ currently stands at 20.6, while D- is at 24.5. This suggests sellers are momentarily stronger than buyers.

However, just a few days ago, BTC was in a stronger uptrend, with D+ above 40 and D- around 10, showing that buying pressure far outweighed selling. Though BTC price is technically in an uptrend, the balance between buying and selling forces has shifted slightly, with D- edging higher than D+.

Bitcoin NUPL Is Far From The Euphoria Level

BTC’s NUPL is currently at 0.529, slightly lower than the 0.546 level reached a few days ago. This drop indicates a modest decline in unrealized profit among holders, reflecting some recent profit-taking or a pause in overall market optimism.

Despite the decrease, BTC’s NUPL remains positive, meaning most holders are still in profit but are approaching a more cautious sentiment.

BTC NUPL. Source: Glassnode

NUPL, or Net Unrealized Profit/Loss, is a metric that calculates the difference between unrealized gains and losses among holders, indicating general market sentiment.

Although BTC’s NUPL has dipped, it still sits in the belief-denial phase and is currently well below the euphoria-greed level where extreme optimism historically occurs.

BTC Price Prediction: A Stronger Correction Before a New All-Time High?

BTC’s price chart shows its short-term EMA lines positioned above the long-term EMAs, indicating a bullish trend. This alignment suggests stronger recent momentum compared to the longer-term trend, often a sign of increased buying interest and positive sentiment, potentially setting up further gains.