🤖 #BTCLIVE - 20.08 - #IDEA 🤖
Snapshot:
Short-Term
30:70- Bullish:Bearish
Long-Term
80:20 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
$20.7K is key to hold if there is any chance at a bullish rally - currently the double bottom is a pretty good sign but a break above $21.4k is required dor the first confirmation and targets will be $21.8k - no predictions beyond that.
Bearish Scenario:
Losing $20.7k then it will be a drop $20k with likely bounce and potential consolidation although high chance of breakdown to $18.8k Weekend volume is erratic at best so wait for confirmation of new week to asses true trajectory.
Bullish Factors:
+ Buy Signal Printed on the Hash Ribbon Indicator
+ Printed a double bottom on the 1hr
Bearish Factors:
- Broken down on macro channel and looking like retest
- DXY still pumping
- Active Addresses turned negative
- Transactions turned negative
Key News:
Bull:
+ US FED says cryptocurrencies present opportunities to banks, customers, and the whole financial system!
+ Starlink ( Elon Musk company) and World Mobile will be working together
Bear:
-
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:
0.26747583
24H%:
-139%
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.6446955
24H%:
+15%
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 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.
+ Transfer Volume - The total number of coins transferred has increased by 38.00% compared to yesterday.
- Active Addresses - The number of active wallets used to send and receive coins has decreased by -52.00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -56.00% 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 - Short position traders are dominant and are willing to pay long traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominant in the derivatives market. More sell orders are filled by takers.
- Liquidation - 21454466.85 of short positions were liquidated in the last 24 hours.
/ 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:
8,332,599,645.07
24H%:
0%
7D%:
-13%
Fear & Greed Index - Aug 20, 2022:
Today: 29 (Fear)
Yesterday: 33 (Fear)
Avg. 1W: 38 😣
Avg. 2W: 38 😣
Avg. 1M: 35 😣
Avg. 2M: 26 😱
Avg. 3M: 21 😱
Avg. 6M: 25 😱
Avg. 1Y: 35 😣
🔸 #Bitcoin
Price: $20,849
24h Low: $20,925
24h High: $23,246
MC Change: -$44.0B (-9.9%)
Dominance: 38.1%
24h: -10.3%
7d: -14.6%
14d: -10.2%
30d: -10.6%
60d: 1.0%
200d: -45.9%
1y: -55.4%
Snapshot:
Short-Term
30:70- Bullish:Bearish
Long-Term
80:20 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
$20.7K is key to hold if there is any chance at a bullish rally - currently the double bottom is a pretty good sign but a break above $21.4k is required dor the first confirmation and targets will be $21.8k - no predictions beyond that.
Bearish Scenario:
Losing $20.7k then it will be a drop $20k with likely bounce and potential consolidation although high chance of breakdown to $18.8k Weekend volume is erratic at best so wait for confirmation of new week to asses true trajectory.
Bullish Factors:
+ Buy Signal Printed on the Hash Ribbon Indicator
+ Printed a double bottom on the 1hr
Bearish Factors:
- Broken down on macro channel and looking like retest
- DXY still pumping
- Active Addresses turned negative
- Transactions turned negative
Key News:
Bull:
+ US FED says cryptocurrencies present opportunities to banks, customers, and the whole financial system!
+ Starlink ( Elon Musk company) and World Mobile will be working together
Bear:
-
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:
0.26747583
24H%:
-139%
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.6446955
24H%:
+15%
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 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.
+ Transfer Volume - The total number of coins transferred has increased by 38.00% compared to yesterday.
- Active Addresses - The number of active wallets used to send and receive coins has decreased by -52.00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -56.00% 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 - Short position traders are dominant and are willing to pay long traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominant in the derivatives market. More sell orders are filled by takers.
- Liquidation - 21454466.85 of short positions were liquidated in the last 24 hours.
/ 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:
8,332,599,645.07
24H%:
0%
7D%:
-13%
Fear & Greed Index - Aug 20, 2022:
Today: 29 (Fear)
Yesterday: 33 (Fear)
Avg. 1W: 38 😣
Avg. 2W: 38 😣
Avg. 1M: 35 😣
Avg. 2M: 26 😱
Avg. 3M: 21 😱
Avg. 6M: 25 😱
Avg. 1Y: 35 😣
🔸 #Bitcoin
Price: $20,849
24h Low: $20,925
24h High: $23,246
MC Change: -$44.0B (-9.9%)
Dominance: 38.1%
24h: -10.3%
7d: -14.6%
14d: -10.2%
30d: -10.6%
60d: 1.0%
200d: -45.9%
1y: -55.4%
