🤖 #BTCLIVE - 16.08 - #IDEA 🤖
Snapshot:
Short-Term
20:80- Bullish:Bearish
Long-Term
60:40 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Consolidating below key resistance at $24.2k - we have to get above this and consolidate above or pump through with big volume to test $25k - this will require additional huge volume to break through given the previous heavy rejections. Breaking $25k and either consolidating above or confirmed retest then $27k and $30k will be the targets
Bearish Scenario:
More likely scenario rn, consolidating below key resistance with volume diminishing a big move is expected with the first stop being $23.5k breaking through and retesting will probably confirm $22.7k and max pain here would be likely be $20k region at the bottom of the macro channel/range. There is an ultra bearish macro descending wedge that can see a possible $16k come in if it plays out although this would require some elevated FUD to drive down that far.
Bullish Factors:
Bullish Factors:
+ Long term trend support
+ Bullish Divergence
+ Bullish CME Gap
+ 20 and 50 DEMA lying in support
Bearish Factors:
- Consolidating under key Resistance
- Under all EMA's and testing the 200EMA
- Exhaustion on the Daily
- TD6 on the Weekly
- McFly Incoming on the Weekly
- Wave Peak on the Daily
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ 💥Revolut gets approval to offer #Bitcoin and crypto in the European Economic Area.
+ Fed Reveals Guidelines for Crypto Banks Who Want to Open ‘Master Accounts’ (cryptopanic.com...Master-Accounts?utm_source...)
Bear:
- Huobi #crypto exchange has announced that it will suspend derivatives trading in New Zealand.
- Bear Market Rally Google Searches almost at an ATH
Metrics:
Exchange
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher 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.
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
On-Chain
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
+ Net Unrealized Profit and Loss (NUPL) -Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses.
+ Transfer Volume - The total number of coins transferred has increased by 9.00% compared to yesterday.
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Sentiment
+ 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 - Long position traders are dominant and are willing to pay to short traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominant in the derivatives market. More sell orders are filled by takers.
/ 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: 9,142,523,051.97 24H%: -8% 7D%: -9%
- Liquidation - 15823977.54 of short positions were liquidated in the last 24 hours.
Fear & Greed Index - Aug 16, 2022:
Today: 44 (Fear)
Yesterday: 45 (Fear)
Avg. 1W: 42 😕
Avg. 2W: 37 😣
Avg. 1M: 34 😣
Avg. 2M: 25 😱
Avg. 3M: 20 💩
Avg. 6M: 24 😱
Avg. 1Y: 35 😣
🔸 #Bitcoin
Price: $24,176
24h Low: $23,848
24h High: $25,093
MC Change: -$2.7B (-0.6%)
Dominance: 38.4%
24h: -0.6%
7d: 4.2%
14d: 3.4%
30d: 16.3%
60d: 7.3%
200d: -34.4%
1y: -48.7%
Snapshot:
Short-Term
20:80- Bullish:Bearish
Long-Term
60:40 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Consolidating below key resistance at $24.2k - we have to get above this and consolidate above or pump through with big volume to test $25k - this will require additional huge volume to break through given the previous heavy rejections. Breaking $25k and either consolidating above or confirmed retest then $27k and $30k will be the targets
Bearish Scenario:
More likely scenario rn, consolidating below key resistance with volume diminishing a big move is expected with the first stop being $23.5k breaking through and retesting will probably confirm $22.7k and max pain here would be likely be $20k region at the bottom of the macro channel/range. There is an ultra bearish macro descending wedge that can see a possible $16k come in if it plays out although this would require some elevated FUD to drive down that far.
Bullish Factors:
Bullish Factors:
+ Long term trend support
+ Bullish Divergence
+ Bullish CME Gap
+ 20 and 50 DEMA lying in support
Bearish Factors:
- Consolidating under key Resistance
- Under all EMA's and testing the 200EMA
- Exhaustion on the Daily
- TD6 on the Weekly
- McFly Incoming on the Weekly
- Wave Peak on the Daily
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ 💥Revolut gets approval to offer #Bitcoin and crypto in the European Economic Area.
+ Fed Reveals Guidelines for Crypto Banks Who Want to Open ‘Master Accounts’ (cryptopanic.com...Master-Accounts?utm_source...)
Bear:
- Huobi #crypto exchange has announced that it will suspend derivatives trading in New Zealand.
- Bear Market Rally Google Searches almost at an ATH
Metrics:
Exchange
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher 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.
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
On-Chain
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
+ Net Unrealized Profit and Loss (NUPL) -Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses.
+ Transfer Volume - The total number of coins transferred has increased by 9.00% compared to yesterday.
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Sentiment
+ 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 - Long position traders are dominant and are willing to pay to short traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominant in the derivatives market. More sell orders are filled by takers.
/ 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: 9,142,523,051.97 24H%: -8% 7D%: -9%
- Liquidation - 15823977.54 of short positions were liquidated in the last 24 hours.
Fear & Greed Index - Aug 16, 2022:
Today: 44 (Fear)
Yesterday: 45 (Fear)
Avg. 1W: 42 😕
Avg. 2W: 37 😣
Avg. 1M: 34 😣
Avg. 2M: 25 😱
Avg. 3M: 20 💩
Avg. 6M: 24 😱
Avg. 1Y: 35 😣
🔸 #Bitcoin
Price: $24,176
24h Low: $23,848
24h High: $25,093
MC Change: -$2.7B (-0.6%)
Dominance: 38.4%
24h: -0.6%
7d: 4.2%
14d: 3.4%
30d: 16.3%
60d: 7.3%
200d: -34.4%
1y: -48.7%
