🤖 #BTCLIVE - 05.09 🤖
TLDR:
Short-Term (-1 Day)
60:40- Bullish:Bearish
Mid-Term (1 Week+)
30:70
Bullish:Bearish
Long-Term (1 Month+)
80:20 - Bullish:Bearish
OVERVIEW:
We are holding on for dear life to this lower trendline and some local supports, the key support is still looking at $19.5k to hold there are some decent buy orders in play protecting this for now. With the US Markets closed today it could allow for a bit of relief away from the usual sell off when there is a bearish sentiment leading into it. From a macro perstpective things are looking pretty good although with some midterm bearish movement factored in. IF we can hold this support and get back above $19.8k then it should give a very good signal of continued movement to the $20.2k region. Losing $19.5k puts us firmly on track to $18.8k. We ideally also need the dollar to start losing some strength too to help some investment come into BTC
There is some pretty inspiring news from Russia and Iran and additionally Saudi Arabia bringing in a Crypto arm to the back - this is good news but probably won't see any effect from it for a while.
Thursday could bring absolutely anything with Powell speaking again so watch out.
TECHNICAL ANALYSIS:
BULLISH FACTORS:
+ Bullish Divergence on the 1D
+ Bullish Descending wedge on the 1D
+ Oversold on the Weekly
+ Reversal signal on the Weekly
+ Wave Dip signal on the daily
+ Bullish Weekly Pivot
+ Bullish Wave Divergence
+ Strong Buy Orders
BEARISH FACTORS:
- Slightly bearish Daily POC
- 200 EMA Resistance incoming
- H/S pattern played/ing out
- Testing the lower trendline quite hard, currently slightly below
- Lost all EMA's
NEWS:
Bull:
+ Russian Central Bank & Finance Ministry agree to legalize cryptocurrency use for cross-border payments
+ Nigerian Govt considering a 'special economic zone' for cryptocurrency businesses.
+ Saudi Arabia's central bank has appointed cryptocurrency chief to advance digital goals.
+ Iran is now licensing #Bitcoin miners under new regulatory framework.
Bear:
- Sept 13: CPI data
- Sept 15: $ETH merge expected sell off
- Sept 16: Mt. Gox Claims Deadline
- Sept 21: FOMC rate hike decision
- Sept 22: $ADA Vasil Hardfork
- stocks.apple.com/AGT9EBcwGSiO3dQ...
Russia cuts off gas exports to Europe via Nord Stream indefinitely
- Powell to talk on Thursday
- 🇺🇸 US Dollar Index hits 20-year high of 110.25
METRICS (Last 24 hours):
EXCHANGE:
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure.
Last Value:
2,322,706.6
24H%:
0%
7D%:
+1%
+ Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower selling pressure.
Last Value:
1,423.02
24H%:
+176%
MINERS:
+ TURNED POSITIVE
+ Miners' Position Index ( MPI ) - Miners' are selling less holdings compared to its one-year average.
Holding
Last Value:
-1.0397
24H%:
+11%
/ TURNED NEUTRAL
/ Puell Multiple - Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.56831915
24H%:
+14%
ON-CHAIN:
- TURNED NEGATIVE
- aSOPR -More investors are selling at a profit. In the middle of a bull market, it can indicate a market top.
Realizing profit
Last Value:
1.0029
24H%:
+1%
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
Low long-term holders' movement
Last Value:
0.42857142
24H%:
-
- Net Unrealized Profit and Loss (NUPL) -Investors are in a Capitulation phase where they are currently facing unrealized losses. It indicates the decreasing motive to realize loss which leads to a decrease in sell pressure.
Captulation
Last Value:
-0.09330793
24H%:
+4%
+ TURNED POSITIVE
+ Transfer Volume - The total number of coins transferred has increased by 148.00% compared to yesterday.
Last Value:
3,061,086.78
24H%:
+148%
+ TURNED POSITIVE
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 138.00% compared to yesterday.
Last Value:
1,137,186
24H%:
+138%
+ Transactions - The total number of transactions has decreased by -39.00% compared to yesterday.
Last Value:
214,340
24H%:
+110%
INVESTOR SENTIMENT
- TURNED NEGATIVE
Coinbase Premium - US investors' buying pressure is relatively weak in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
DERIVATIVES
- TURNED NEGATIVE -
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
Last Value:
-0.00607986
24H%:
-28%
- TURNED NEGATIVE
- Taker Buy Sell Ratio - Selling sentiment is dominent in the derivatives market. More sell orders are filled by takers.
Buy:
0.51493069
Sell:
0.48506931
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend
Last Value:
8,820,290,269.98
24H%:
-1%
7D%:
+3%
- Liquidation - 6507028.91 of long positions were liquidated in the last 24 hours.
Long:
6,507,028.9
Short:
4,006,594.45
MARKET SENTIMENT:
Fear & Greed Index - Sep 05, 2022:
Today: 23 (Extreme Fear)
Yesterday: 20 (Extreme Fear)
Avg. 1W: 23 😱
Avg. 2W: 25 😱
Avg. 1M: 31 😣
Avg. 2M: 29 😱
Avg. 3M: 24 😱
Avg. 6M: 24 😱
Avg. 1Y: 33 😣
🔸 #Bitcoin
Price: $19,988
24h Low: $19,649
24h High: $20,021
MC Change: $3.0B (0.8%)
Dominance: 37.2%
24h: 0.8%
7d: -0.4%
14d: -5.6%
30d: -11.9%
60d: -1.0%
200d: -55.2%
1y: -60.0%
TLDR:
Short-Term (-1 Day)
60:40- Bullish:Bearish
Mid-Term (1 Week+)
30:70
Bullish:Bearish
Long-Term (1 Month+)
80:20 - Bullish:Bearish
OVERVIEW:
We are holding on for dear life to this lower trendline and some local supports, the key support is still looking at $19.5k to hold there are some decent buy orders in play protecting this for now. With the US Markets closed today it could allow for a bit of relief away from the usual sell off when there is a bearish sentiment leading into it. From a macro perstpective things are looking pretty good although with some midterm bearish movement factored in. IF we can hold this support and get back above $19.8k then it should give a very good signal of continued movement to the $20.2k region. Losing $19.5k puts us firmly on track to $18.8k. We ideally also need the dollar to start losing some strength too to help some investment come into BTC
There is some pretty inspiring news from Russia and Iran and additionally Saudi Arabia bringing in a Crypto arm to the back - this is good news but probably won't see any effect from it for a while.
Thursday could bring absolutely anything with Powell speaking again so watch out.
TECHNICAL ANALYSIS:
BULLISH FACTORS:
+ Bullish Divergence on the 1D
+ Bullish Descending wedge on the 1D
+ Oversold on the Weekly
+ Reversal signal on the Weekly
+ Wave Dip signal on the daily
+ Bullish Weekly Pivot
+ Bullish Wave Divergence
+ Strong Buy Orders
BEARISH FACTORS:
- Slightly bearish Daily POC
- 200 EMA Resistance incoming
- H/S pattern played/ing out
- Testing the lower trendline quite hard, currently slightly below
- Lost all EMA's
NEWS:
Bull:
+ Russian Central Bank & Finance Ministry agree to legalize cryptocurrency use for cross-border payments
+ Nigerian Govt considering a 'special economic zone' for cryptocurrency businesses.
+ Saudi Arabia's central bank has appointed cryptocurrency chief to advance digital goals.
+ Iran is now licensing #Bitcoin miners under new regulatory framework.
Bear:
- Sept 13: CPI data
- Sept 15: $ETH merge expected sell off
- Sept 16: Mt. Gox Claims Deadline
- Sept 21: FOMC rate hike decision
- Sept 22: $ADA Vasil Hardfork
- stocks.apple.com/AGT9EBcwGSiO3dQ...
Russia cuts off gas exports to Europe via Nord Stream indefinitely
- Powell to talk on Thursday
- 🇺🇸 US Dollar Index hits 20-year high of 110.25
METRICS (Last 24 hours):
EXCHANGE:
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure.
Last Value:
2,322,706.6
24H%:
0%
7D%:
+1%
+ Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower selling pressure.
Last Value:
1,423.02
24H%:
+176%
MINERS:
+ TURNED POSITIVE
+ Miners' Position Index ( MPI ) - Miners' are selling less holdings compared to its one-year average.
Holding
Last Value:
-1.0397
24H%:
+11%
/ TURNED NEUTRAL
/ Puell Multiple - Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.56831915
24H%:
+14%
ON-CHAIN:
- TURNED NEGATIVE
- aSOPR -More investors are selling at a profit. In the middle of a bull market, it can indicate a market top.
Realizing profit
Last Value:
1.0029
24H%:
+1%
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
Low long-term holders' movement
Last Value:
0.42857142
24H%:
-
- Net Unrealized Profit and Loss (NUPL) -Investors are in a Capitulation phase where they are currently facing unrealized losses. It indicates the decreasing motive to realize loss which leads to a decrease in sell pressure.
Captulation
Last Value:
-0.09330793
24H%:
+4%
+ TURNED POSITIVE
+ Transfer Volume - The total number of coins transferred has increased by 148.00% compared to yesterday.
Last Value:
3,061,086.78
24H%:
+148%
+ TURNED POSITIVE
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 138.00% compared to yesterday.
Last Value:
1,137,186
24H%:
+138%
+ Transactions - The total number of transactions has decreased by -39.00% compared to yesterday.
Last Value:
214,340
24H%:
+110%
INVESTOR SENTIMENT
- TURNED NEGATIVE
Coinbase Premium - US investors' buying pressure is relatively weak in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
DERIVATIVES
- TURNED NEGATIVE -
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
Last Value:
-0.00607986
24H%:
-28%
- TURNED NEGATIVE
- Taker Buy Sell Ratio - Selling sentiment is dominent in the derivatives market. More sell orders are filled by takers.
Buy:
0.51493069
Sell:
0.48506931
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend
Last Value:
8,820,290,269.98
24H%:
-1%
7D%:
+3%
- Liquidation - 6507028.91 of long positions were liquidated in the last 24 hours.
Long:
6,507,028.9
Short:
4,006,594.45
MARKET SENTIMENT:
Fear & Greed Index - Sep 05, 2022:
Today: 23 (Extreme Fear)
Yesterday: 20 (Extreme Fear)
Avg. 1W: 23 😱
Avg. 2W: 25 😱
Avg. 1M: 31 😣
Avg. 2M: 29 😱
Avg. 3M: 24 😱
Avg. 6M: 24 😱
Avg. 1Y: 33 😣
🔸 #Bitcoin
Price: $19,988
24h Low: $19,649
24h High: $20,021
MC Change: $3.0B (0.8%)
Dominance: 37.2%
24h: 0.8%
7d: -0.4%
14d: -5.6%
30d: -11.9%
60d: -1.0%
200d: -55.2%
1y: -60.0%
