🤖 #BTCLIVE - 30.08 🤖
TLDR:
Short-Term (<1 Day)
40:60- Bullish:Bearish
Mid-Term (<1 Week)
50:50
Bullish:Bearish
Long-Term (1 Month
80:20 - Bullish:Bearish
TECHNICAL ANALYSIS:
Alot of interesting data at the moment, in the short-term everything is looking quite stretched and oversold most notably with an ascending wedge forming, along with a few sell signals on resistance, we will need some volume to break up out of this at the moment it is holding, I am leaning quite bearish in the short term due to this with a break down of the triangle to potentially 19.5k - 19.8k area of support. A break up however will move to $21.7k with little resistance in the way.
The long term however is a different story with some big bullish signals showing now most notably the contrarian reversal signal on the weekly for alpha prime sat on a macro trendline support, this coupled with the newly formed descending wedge on the daily is telling me we are not far off an imminent push up over the next 4 weeks, this could be the start....bull rally loading!
Otherwise coming to the end of the consolidation now so biggish move expected.
Technical Analysis Bullish Factors:
+ Wave Dip buy signal on the daily (very strong)
+ Contrarian Reversal on the Weekly on Macro Trendline
+ Descending Wedge on the 1D
+ Wave Dip Buy Forming on the 1Day
Technical Analysis Bearish Factors:
- Head & Shoulders on the 5min
- Pullback signal on the 1hr
- Wave trend Oversold on 1hr
- Peak Signal on the Alpha Wave on 1hr
- Weekly Pivot Filled
- CME Gap filled
- 200 EMA resistance
- Under key resistance
- Ascending Wedge
NEWS:
Bull:
+ Iran passes law enabling Bitocin and crypto payments for imports
cryptopanic.com...pto-for-imports?utm_source...
+ Indonesia's biggest tech company, GoTo, just bought a Bitcoin exchange.
+ Qatar grants the country's first digital payments services license to iPay.
+ Singapore High Court grants #crypto lender Holdnaut protection from investors.
+ 7,507 $BTC ($151 million) has been taken off exchanges in the last 7 days.
+ The whales addresses controlling 1k to 10k BTC are starting to accumulate coins on-chain
Bear:
- Chinese police arrest over 200 people linked to one of the country’s largest banking scandals ever.
- FBI issues #DeFi crypto vulnerabilities warning.
METRICS (Last 24 hours):
EXCHANGE:
+ Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure.
- Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.
MINERS:
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
Moderately selling
Last Value:
-0.90908933
24H%:
-10%
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.5305056
24H%:
-2%
ON-CHAIN:
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
Realizing loss
Last Value:
0.99056737
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:
0.28571428
24H%:
+100%
- 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:
-0.05740991
24H%:
-35%
- Transfer Volume - The total number of coins transferred has decreased by -36.00% compared to yesterday.
TURNED POSITIVE +
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 19.00% compared to yesterday.
TURNED POSITIVE +
+ Transactions - The total number of transactions has increased by 24.00% compared to yesterday.
INVESTOR SENTIMENT
TURNED POSITIVE +
+ Coinbase Premium - US investors' buying pressure is relatively strong 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
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
Last Value:
-0.00450709
24H%:
+101%
+ Taker Buy Sell Ratio - Buying sentiment is dominent in the derivatives market. More buy orders are filled by takers.
Buy:
0.53551546
Sell:
0.46448454
/ 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:
8,591,474,245.29
24H%:
0%
7D%:
+1%
+ Liquidation - 19857239.24of short positions were liquidated in the last 24 hours.
Long:
3,734,557.07
Short:
19,857,239.24
MARKET SENTIMENT:
Fear & Greed Index - Aug 30, 2022:
Today: 27 (Fear)
Yesterday: 24 (Extreme Fear)
Avg. 1W: 26 😱
Avg. 2W: 29 😱
Avg. 1M: 33 😣
Avg. 2M: 29 😱
Avg. 3M: 23 😱
Avg. 6M: 24 😱
Avg. 1Y: 33 😣
🔸 #Bitcoin
Price: $20,327
24h Low: $19,617
24h High: $20,385
MC Change: $12.0B (3.2%)
Dominance: 37.7%
24h: 3.4%
7d: -6.0%
14d: -16.4%
30d: -14.8%
60d: 1.1%
200d: -54.2%
1y: -58.5%
TLDR:
Short-Term (<1 Day)
40:60- Bullish:Bearish
Mid-Term (<1 Week)
50:50
Bullish:Bearish
Long-Term (1 Month
80:20 - Bullish:Bearish
TECHNICAL ANALYSIS:
Alot of interesting data at the moment, in the short-term everything is looking quite stretched and oversold most notably with an ascending wedge forming, along with a few sell signals on resistance, we will need some volume to break up out of this at the moment it is holding, I am leaning quite bearish in the short term due to this with a break down of the triangle to potentially 19.5k - 19.8k area of support. A break up however will move to $21.7k with little resistance in the way.
The long term however is a different story with some big bullish signals showing now most notably the contrarian reversal signal on the weekly for alpha prime sat on a macro trendline support, this coupled with the newly formed descending wedge on the daily is telling me we are not far off an imminent push up over the next 4 weeks, this could be the start....bull rally loading!
Otherwise coming to the end of the consolidation now so biggish move expected.
Technical Analysis Bullish Factors:
+ Wave Dip buy signal on the daily (very strong)
+ Contrarian Reversal on the Weekly on Macro Trendline
+ Descending Wedge on the 1D
+ Wave Dip Buy Forming on the 1Day
Technical Analysis Bearish Factors:
- Head & Shoulders on the 5min
- Pullback signal on the 1hr
- Wave trend Oversold on 1hr
- Peak Signal on the Alpha Wave on 1hr
- Weekly Pivot Filled
- CME Gap filled
- 200 EMA resistance
- Under key resistance
- Ascending Wedge
NEWS:
Bull:
+ Iran passes law enabling Bitocin and crypto payments for imports
cryptopanic.com...pto-for-imports?utm_source...
+ Indonesia's biggest tech company, GoTo, just bought a Bitcoin exchange.
+ Qatar grants the country's first digital payments services license to iPay.
+ Singapore High Court grants #crypto lender Holdnaut protection from investors.
+ 7,507 $BTC ($151 million) has been taken off exchanges in the last 7 days.
+ The whales addresses controlling 1k to 10k BTC are starting to accumulate coins on-chain
Bear:
- Chinese police arrest over 200 people linked to one of the country’s largest banking scandals ever.
- FBI issues #DeFi crypto vulnerabilities warning.
METRICS (Last 24 hours):
EXCHANGE:
+ Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure.
- Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.
MINERS:
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
Moderately selling
Last Value:
-0.90908933
24H%:
-10%
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.5305056
24H%:
-2%
ON-CHAIN:
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
Realizing loss
Last Value:
0.99056737
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:
0.28571428
24H%:
+100%
- 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:
-0.05740991
24H%:
-35%
- Transfer Volume - The total number of coins transferred has decreased by -36.00% compared to yesterday.
TURNED POSITIVE +
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 19.00% compared to yesterday.
TURNED POSITIVE +
+ Transactions - The total number of transactions has increased by 24.00% compared to yesterday.
INVESTOR SENTIMENT
TURNED POSITIVE +
+ Coinbase Premium - US investors' buying pressure is relatively strong 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
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
Last Value:
-0.00450709
24H%:
+101%
+ Taker Buy Sell Ratio - Buying sentiment is dominent in the derivatives market. More buy orders are filled by takers.
Buy:
0.53551546
Sell:
0.46448454
/ 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:
8,591,474,245.29
24H%:
0%
7D%:
+1%
+ Liquidation - 19857239.24of short positions were liquidated in the last 24 hours.
Long:
3,734,557.07
Short:
19,857,239.24
MARKET SENTIMENT:
Fear & Greed Index - Aug 30, 2022:
Today: 27 (Fear)
Yesterday: 24 (Extreme Fear)
Avg. 1W: 26 😱
Avg. 2W: 29 😱
Avg. 1M: 33 😣
Avg. 2M: 29 😱
Avg. 3M: 23 😱
Avg. 6M: 24 😱
Avg. 1Y: 33 😣
🔸 #Bitcoin
Price: $20,327
24h Low: $19,617
24h High: $20,385
MC Change: $12.0B (3.2%)
Dominance: 37.7%
24h: 3.4%
7d: -6.0%
14d: -16.4%
30d: -14.8%
60d: 1.1%
200d: -54.2%
1y: -58.5%
