• Bitcoin price is trading between $65,300 and $71,360 at the moment, with the potential to rise.
• An indicator is currently flashing a buy signal, which might drive investors to accumulate BTC.
• This can be observed on the Reserve Risk indicator as well, which is currently in the green zone.

Bitcoin (BTC) price is currently stuck in the sub $70,000 range after marking an all-time.

However, looking at the on-chain metrics, it appears that BTC could be heading back up.

Bitcoin Flashes Buy Signals

Bitcoin price, trading at $67,760 at the time of writing, is noting a red candlestick today, but the metrics are suggesting a long-term bullish outlook for the cryptocurrency. The Reserve Risk indicator is currently in the green zone, making its way out of it.

This indicator measures the confidence of long-term Bitcoin holders by comparing the current price to its long-term HODLer cost basis. A lower Reserve Risk suggests that long-term holders are likely going to accumulate, signaling a recovery in sight.

This potential is also visible in the Price Daily Average Addresses (DAA) Divergence. This Indicator measures the disparity between a cryptocurrency’s price and the number of active addresses interacting with it daily, helping identify potential price trends based on user activity.

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During moments of price decline and active address incline, the indicator flashes a “buy” signal. Such is the case at the moment, making BTC ripe for accumulation.

If these factors drive investors to add BTC to their wallets, Bitcoin price could see a surge in the next few days.

BTC Price Prediction: Bounce

Bitcoin price over this weekend will likely note a rise to $70,000 and beyond. Since investors are likely going to accumulate owing to the bullish anticipation ahead of the halving, the price could go up too.