despite the positive Onchain metrics such as a Decrease of bitcoin inflows to exchanges in the last 24 hours, a decrease in exchanges reserve, reduce in CDD, and Dominant long sentiment in the Funding Rate metric, Bitcoin seems to be forming a descending triangle, which is usually associated with a breakdown
In this post, I want to examine the market bottom area based on technical indicators and onchain metrics. Technical indicators: 1- RSI: In the last two cycles, the RSI value in the market bottoms has been between 43.6 and 44.8 in the monthly timeframe. RSI Value is 46.94 now. this is not far from the previous two values, but they were slightly less than this...
V/T ratio is a new Onchain metric that I published recently in Tradingview. To check this Onchain Metric Please check the link below: this indicator is based on THE TOTAL VOLUME OF BITCOIN TRANSFERRED ONCHAIN IN USD and THE TOTAL AMOUNT OF TRANSACTIONS. I have explained the phases of the market based on this metric in the link above. When it is high, it means...
BTC is in its long term channel, and if we lose that level we might see the giant double top and path to 12k which is less possible against bullish case.
The price is at the support level of July 2021, but the situation is different from that time The situation is different from July 2021, when Bitcoin was in the same range of $ 30,000. The US dollar index, which has a negative correlation with bitcoin, is increasing The US stock market has lost support levels and is in a downtrend The buyer to seller ratio is in...
The summary of onchain indicators: Miners position index (MPI): + 129% 24h% Binary CDD: +257% 24h% Active Sending Addresses: + 24% 24H% Bank reserve: -60% 24h% Exchanges netflow: +228% 24h% these onchain indicators show the sales pressure in the market
The number of wallets with more than 1,000 bitcoins has grown by about 8% since February this year, but that will not be enough to reverse the bitcoin trend. We are witnessing a decline in the reserves of banks and miners. This is a sign of their bitcoin sales in recent months, and despite the relative decline in exchange reserves, it is still very high. More...
Banks can be considered as one of the market whales. We are witnessing an increase in banks' reserves from December 2019. Reserve of banks increased about 10 times from November 2020 to February 2021. After that, the price of bitcoin started to rise and in March 2021 it reached ATH, Then, with the decline of the reserve of the banks (sales by banks), the price of...
the number of spent transaction outputs is increasing. This could be due to increased sales last week, which led to lower prices. Simultaneously with this event, we see an increase in the sales ratio in the indicator of Taker Buy Sell Ratio chain, which indicates an increase in the number of sellers compared to buyers.
the number of spent transaction outputs is increasing. This could be due to increased sales last week, which led to lower prices. Simultaneously with this event, we see an increase in the sales ratio in the indicator of Taker Buy Sell Ratio chain, which indicates an increase in the number of sellers compared to buyers.
The oscillator shows the number of successful trades in the weekly time frame. However, contrary to what is expected, we are seeing a decrease in volume This could be due to the involvement of small and short-term traders. This may be a reason to create a local top in the coming weeks.
This indicator is the number of unique addresses that appeared for the first time in the bitcoin transactions. We can use it to identify distribution areas. According to Wyckoff in distribution areas, long-term holders sell their stocks (coins) to newcomer investors. Accordingly, in the distribution area, we should see a peak increase in the number of new...
The hash rate drop oscillator shows the hash rate decrease. Although the drop is not large enough for the oscillator to enter the over-low zone, it indicates that some miners have stopped mining. If this decline continues, a reduction in supply could push up prices.
Consider the following. These can indicate the possibility of creating a new local top in the coming days: 1- Taker buy to sell ratio increased 2- there was significant outflow from exchanges 3- drop the exchange's reserve These could indicate the purchase and exit of bitcoins from the exchange by short-term investors. There is also the possibility of a local top...
Consider the following. These can indicate the possibility of creating a new local top in the coming days: 1- Taker buy to sell ratio increased 2- there was significant outflow from exchanges 3- drop the exchange's reserve These could indicate the purchase and exit of bitcoins from the exchange by short-term investors. There is also the possibility of a local top...
2022/4/12 Some funds flowed from BTC market into ETH market. COINBASE:BTCUSD COINBASE:ETHUSD COINBASE:ETHBTC Stablecoins Exchange Reserve did not increase or decrease significantly as BTCÐ prices gradually fell, this could represent a transfer of funds between different currencies like BTCÐ&Others. Pic.1: upload.cc I discover some funds flowed from...
The oscillators show smoothed moving average of active addresses and the RSI of it Active bitcoin addresses are decreasing. This indicates a decrease in investor participation in the market and the continuation of the downtrend. To start the uptrend, we need to increase investor participation in the market, which will be accompanied by an increase in active addresses
By Combining technical analysis, price action, and onchain analysis, it seems BTC is facing a strong downtrend Consider the following: After the 200-day moving average break-down, Bitcoin retested it, but failed to break it up and finally respected it. At the bottom of the short-term channel, a pin bar has formed, indicating a reduction in higher prices In the...