On the chart, we can see that METC has formed a double bottom , and is showing bullish movements already.
RSI is showing bullish divergence and crossing.
It can be entered either at the
breakout point or at the current strong support level .
The first target is purely based on the forming of the setup (TA), while the second target is at the resistance level...
Metcalfe's Law has been successfully used to value a variety of network effect technologies and businesses, including Facebook and Tencent.
Applying Metcalfe's Law to Bitcoin , using "Daily Active Addresses" (DAA) as the "n" value, yields interesting results.
Historically, Bitcoin has tracked the Metcalfe Law Fair Price reasonably well. A number of studies have...
So yes, BTC is apparently bullisher than I thought, at least short-term, because longterm I'm always a BTC uber bull :)
But short-term, I had several reasons to think that a weekly capitulation bar was very likely:
1. Too much bullishness and optimism (contrarian indicator)
2. Number of daily transactions still below ATH (although now finally approaching ATH...
Well, this bounce from 3200 is the most pitiful excuse for a bounce I have seen in a long time.
This shows that the support at 3200, which should have lead to a very strong reaction, a rally to upper 5000s, is quite weak.
I think we'll go below the MA200 in the near future. Maybe the structure will be different from the 2011 fractal, in that BTC just doesn't...
Sorry, I didn't know how to do it here on tradingview.
My very smart girlfriend Jixuan Wang used the program R to import and plot the real bitcoin price versus the Metcalfe price:
ibb.co
Orange is real price from exchanges, green is Metcalfe price, which can be calculated from the number of the daily transactions squared:
P = C* T².
P=price
C= a constant,...
Fractal Markets Theory:
www.investopedia.com
"The role of information is crucial in making sound decisions with any sort of investment strategy. Within the framework of FMH, the impact of information availability can lead to changes in time horizons and liquidity. During times of stability, FMH states all investors share the same information. How information is...
Now the real insane phase of this current growth cycle is starting. I do not like the term bubble, since btc is not a bubble. It is a network, and a network
can be priced. According to metcalfes law, we are actually not very overpriced. The value of a network is derived from the number of users and how often
it is used. Bitcoin has a current metcalfe price of...
