🤖 #BTCLIVE - 18.08 - #IDEA 🤖
Snapshot:
Short-Term
40:60- Bullish:Bearish
Long-Term
60:40 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Breaking up on this bearish pennant will be helpful but more critically breaking back above $24k is where the price needs to be - If this can be achieved then a push to $25.3k at the upper range of the ascending wedge would be a target.
Bearish Scenario:
Breaking down on the bearish pennant will likely continue its move to $22.6k which is the slightly more expected scenario to occur here.
Bullish Factors:
+ Still holding 50 DEMA support
+ Daily: Bullish Divergence
+ Daily: Incoming McFly
+ Exchange Reserve turned positive
+ Exchange Netflow Total turned positive
+ Active Addresses turned positive
+ Transactions turned positive
Bearish Factors:
- Flipping the 20 DEMA
- Bearish Pennant Formed
- Incoming Mcfly Signal
- Consolidating Under Key Resistance
- Lost Key Ascending Trendline Support to confirm breakdown of longer term ascending wedge
- Weekly: Incoming McFly
- Lost Key Support
- Transfer Volume turned negative
- Funding Rate turned negative
Key News:
Bull:
+ Crypto.com Business License Approved by UK Finance Watchdog (cryptopanic.com...inance-Watchdog?utm_source...)
+ Australian convenience store chain with +170 locations now accepts #Bitcoin
Bear:
- #Bitcoin mining difficulty has increased by 0.63% to 28.35 trillion.
- Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys (cryptopanic.com...on-altcoin-buys?utm_source...)
- Markets React to FOMC Meeting Minutes (cryptopanic.com...Meeting-Minutes?utm_source...)
Metrics:
Exchange
+ Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure.
+ Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower 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 decreased by -24.00% compared to yesterday.
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 83.00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 51.00% 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 - 14032357.38 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:
9,560,712,444.14
24H%:
+3%
7D%:
-4%
Fear & Greed Index - Aug 18, 2022:
Today: 30 (Fear)
Yesterday: 41 (Fear)
Avg. 1W: 42 😕
Avg. 2W: 38 😣
Avg. 1M: 35 😣
Avg. 2M: 26 😱
Avg. 3M: 21 😱
Avg. 6M: 25 😱
Avg. 1Y: 35 😣
🔸 #Bitcoin
Price: $23,368
24h Low: $23,277
24h High: $24,439
MC Change: -$9.8B (-2.1%)
Dominance: 38.4%
24h: -2.2%
7d: 0.7%
14d: 1.4%
30d: 12.2%
60d: 14.1%
200d: -38.3%
1y: -49.2%
Snapshot:
Short-Term
40:60- Bullish:Bearish
Long-Term
60:40 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Breaking up on this bearish pennant will be helpful but more critically breaking back above $24k is where the price needs to be - If this can be achieved then a push to $25.3k at the upper range of the ascending wedge would be a target.
Bearish Scenario:
Breaking down on the bearish pennant will likely continue its move to $22.6k which is the slightly more expected scenario to occur here.
Bullish Factors:
+ Still holding 50 DEMA support
+ Daily: Bullish Divergence
+ Daily: Incoming McFly
+ Exchange Reserve turned positive
+ Exchange Netflow Total turned positive
+ Active Addresses turned positive
+ Transactions turned positive
Bearish Factors:
- Flipping the 20 DEMA
- Bearish Pennant Formed
- Incoming Mcfly Signal
- Consolidating Under Key Resistance
- Lost Key Ascending Trendline Support to confirm breakdown of longer term ascending wedge
- Weekly: Incoming McFly
- Lost Key Support
- Transfer Volume turned negative
- Funding Rate turned negative
Key News:
Bull:
+ Crypto.com Business License Approved by UK Finance Watchdog (cryptopanic.com...inance-Watchdog?utm_source...)
+ Australian convenience store chain with +170 locations now accepts #Bitcoin
Bear:
- #Bitcoin mining difficulty has increased by 0.63% to 28.35 trillion.
- Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys (cryptopanic.com...on-altcoin-buys?utm_source...)
- Markets React to FOMC Meeting Minutes (cryptopanic.com...Meeting-Minutes?utm_source...)
Metrics:
Exchange
+ Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure.
+ Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower 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 decreased by -24.00% compared to yesterday.
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 83.00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 51.00% 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 - 14032357.38 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:
9,560,712,444.14
24H%:
+3%
7D%:
-4%
Fear & Greed Index - Aug 18, 2022:
Today: 30 (Fear)
Yesterday: 41 (Fear)
Avg. 1W: 42 😕
Avg. 2W: 38 😣
Avg. 1M: 35 😣
Avg. 2M: 26 😱
Avg. 3M: 21 😱
Avg. 6M: 25 😱
Avg. 1Y: 35 😣
🔸 #Bitcoin
Price: $23,368
24h Low: $23,277
24h High: $24,439
MC Change: -$9.8B (-2.1%)
Dominance: 38.4%
24h: -2.2%
7d: 0.7%
14d: 1.4%
30d: 12.2%
60d: 14.1%
200d: -38.3%
1y: -49.2%
