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BITCOIN ON-CHAIN CHARTS UPDATE Bitcoin weekly closed on the green but it is not guaranteed for more bullish weekly price actions yet. Trend reversal usually confirms when it closes with an engulfing candle. Hence, at the moment, we are still expecting some pains in the market up until we form a bullish engulfing candle or …
BITCOIN WEEKLY CLOSE ON THE GREEN, MONTHLY STILL LOOKS BLOODY Read More »
BITCOIN ON-CHAIN CHARTS UPDATE Let’s look at another chart for today’s Bitcoin update: Bitcoin Reserve Risk. The increasing yellow line suggests healthy confidence in Bitcoin’s future. This shows the number of holders increasing in time. The blue line represents the Median Value of Coin (Days) Destroyed. As long as the MVOCD is below the Bitcoin …
BITCOIN RESERVE RISK SHOWS GREAT BUY POTENTIAL WHEN BITCOIN BOTTOMS Read More »
BITCOIN ON-CHAIN CHARTS UPDATE Bitcoin, after touching the $38k level, is now back to the $35k range. What’s going on with the charts? Let’s look at Bitcoin Golden Ratio Multiplier. According to this chart, market cycle highs hit decreasing Fibonacci sequence multiples of the 350DMA. Hence when looking at the chart below, this metric could …
BITCOIN GOLDEN RATIO MULTIPLIER SHOWS WE COULD BE IN A BEAR MARKET, WHAT SHOULD WE DO? Read More »
BITCOIN ON-CHAIN CHARTS UPDATE Bitcoin is now up by 2.4% in the last 24 hours and has now gotten back to the $37k level. We’re also seeing some bullish candles on the daily (now on a 4-day streak). Could this be the signal of a bitcoin bottom? Let’s look at the charts. MVRV-Z Score is …
BITCOIN BOTTOM LOOKS NEARER THAN ‘THE TOP’, BULLISH CANDLES ON THE DAILY TIMEFRAME Read More »
BITCOIN ON-CHAIN CHARTS UPDATE Bitcoin dips to 35k and extreme fear is still felt across the markets. Looking at the exchanges inflows and outflows though, we can see that there’s a fair share of buyers and sellers heavily influencing Bitcoin’s volatility at the moment. This almost feels like we’re going into a bear market without …
BITCOIN ON-CHAIN CHARTS UPDATE After trying to get past $43k yesterday, Bitcoin is yet again down and has lost the $40k support level. Currently trading at $38,942.26 at the time of writing, BTC is still thriving amid bears calling $69k was the double top. This speculation going on in social media made the sentiment on …
BITCOIN ON-CHAIN CHARTS UPDATE Nothing’s happening much on Bitcoin lately. We are running a 3-day streak in Extreme Fear Sentiment at 24. If you can look at the chart below, we have been having multiple bear market sentiments in the middle of a lengthening bull cycle. I’m introducing a new chart: Bitcoin Liveliness Chart. This …
BITCOIN UPDATE Bitcoin is currently trading at $41,723.80 and still got no interesting movement for weeks now. Bitcoin Fear and Greed Index is still printing Extreme Fear across the market. Retail investors are most likely hesitant in buying at the moment wherein, all the while, smart money is accumulating since October last year. Take a …
BITCOIN SENTIMENT STILL AT EXTREME FEAR; NVT SIGNAL REPLICATING JULY TREND Read More »
BITCOIN UPDATE Bitcoin is currently trading at $42,202.29 and has been showing no confirmations whether we are still in a bull cycle or have started the dreaded bear market. But we have the charts to look at to balance our wavering sentiments. According to the 200-Week Moving Average Heatmap, we haven’t had the top yet, …
BITCOIN CHARTS Looking at the chart below, I put all major on-chain charts on top of each other to get a better view of what’s going on. Since the all-time high last October, MVRV Ratio, MVRV Z-Score, NUPL, and NVT Signal have been declining and gradually going into a buy signal. However, RHODL Ratio is …
