Class of 2017 | My analysis is supported by @Binance | Analyst at Bitcoin Live | I help you stay convicted through volatility using data @ OCC Newsletter ↓
If you remove #Bitcoin that hasn't moved in 10+ years, the percent of the supply in profit has recently reached all-time lows.
32.73% of the supply is sitting in profit, lower than all prior bear markets.
If bottoms occur during max pain, we are certainly there/close to it.
Normal, cyclical behavior for Bitcoin.
No, it’s not dead.
Yes, there will be brighter days.
Best advice I give to anyone going through their first market like this is to touch grass. I certainly have been.
More thoughts in a write up later this week.
Bitcoin is compressing around multiple key on-chain levels.
Bulls want to see $75K hold.
Bears want to see price under $81K.
A market in equilibrium. Who will flinch first?
Bitcoin is compressing around multiple key on-chain levels.
Bulls want to see $75K hold.
Bears want to see price under $81K.
A market in equilibrium. Who will flinch first?
Bitcoin is now BELOW the STHCB, which sits at $78.3K.
Weakness here shows a lack of follow through from the bulls. The 128DMA at $75.2K is the next point of interest.
Bitcoin's price has dropped below the Long-Term Holder Cost Basis during all prior bear markets.
Currently, that level is at $48.6K and has not been reached yet.
Do you think BTC hits this level before reaching $100K+ again?
This tight Bitcoin range keeps tightening. We will have an answer soon.
$75K - $82K is mostly noise. Movement outside of this range is when the signal comes.
Bitcoin's Funding Rates hit positive for a 3rd day in a row on Binance for the first time in over a month.
The move out of the $60Ks and into the low $80Ks was during an environment of mostly negative funding.
The longer Bitcoin stays above $78K, the more likely 6 digit BTC becomes...
Strong confluence around $78K with the True Market Mean and Short-Term Holder Cost Basis sitting at that level.
@ajorgenseburner@BitcoinMagPro@binance Yes, during the initial leg out of the bear bottom funding will be largely positive, with negative funding signaling bull market corrections typically
This rally above the short-term holder cost basis has been impressive and legitimate in my eyes due to funding being negative 🔴on Binance the entire time.
Funding has shifted positive 🟢over the last two days.
Possible weakness ahead for BTC if funding keeps leaning positive.