📆 We can see that the month of May is a crucial month.
The range contained in the 🟥 red rectangle has already been tested several times, and in May last year we had a sharp drop.
Here we are again in the month of May, on top of that range.
Will it fall again? I don't know.
But if it drops again, I would bet on a drop to some Fibonacci region drawn on the chart,...
Given the current stability of BTC prices, I wanted to shed some light on an important metric that indicates Bitcoin's profitability and discuss the significance of HODLing for the long term.
As many of you know, the SOPR (Spent Output Profit Ratio) is a widely recognized on-chain indicator used to determine the profitability of Bitcoin transactions. When the...
Analyzing the blockchain history of addresses with realized profits, we can see that June and July are periods of inflections.
If this repeats itself, we will have a strong last drop in one of these month, and only after that a recap.
We are looking at a chart of bitcoins entire history against the stock to flow. The stock to flow is the orange line that price action tends to follow. The green line on the lower part of the chart with the what looks like speed bumps in is the deviation of the stock to flow. Well, the deviation in the past has made moves higher almost precisely the halving. Yet...
As you know bitcoin started to turn bullish weeks ago, market greed has increased, and dominance is above 42%.
On a day to day charts and the short term, Bitcoin hit a supply zone that is pretty strong in every timeframe.
I see a rejection from that zone, and I think this rejection might create a bearish momentum for the short term; in other word, I...
This indicator measures the total amount of coins transferred on-chain.
Only successful transfers are counted.
In this chart I put the main stable coins.
Looking at the on-chain volume, the highest volume so far was reached on Nov 08, 2022, at the bottom marked in the red circle.
Looking at it, the break of this support would...
The fall of FTX will go down in history as something similar to the crash of 2008.
On Friday, 11/11/2022, a court-supervised reorganization was requested, the first step towards filing for bankruptcy.
In this chart, we can see the balance of assets belonging to the hodlers of the FTT token, used on the FTX exchange.
Surreptitiously, on September 26, someone with...
This is a quick description for using the Bitcoins Active Addresses from glass node.
This chart is typically not something that makes much sense as it jumps back and forth with a-lot of volatility.
However, apply a 14 Day SMA and you can get idea of the average of all the noise.
I will explain briefly what the noise could mean.
The number of unique addresses...
As per the bearish divergence from February 2021 to May 2021, this indicator has early signaled the top.
Now the traded volume is about to exit a bearish channel.
We also have an expansion wedge that is about to be broken along with the 50% retracement.
A look at various Onchain metrics shows that miners, banks, and whales do not support the increase in the price of Bitcoin. Banks continued to reduce their Bitcoin reserves and the miners sold their bitcoins. Bitcoin Exchange Wall Ratio has also shown the increase in the entry of Bitcoin into the exchanges by whales. On the other hand, With the reduction of...
based on halving time, the next bull run we'll occur on April 1, 2024.
The new ATH will happen 43- 74 weeks after Halving Time (2025). With this estimate, bitcoin will be around 110 to 135 thousand dollars on the next ATH
P.S. I used to New onchain Metric:
1- BTC New Supply: Onchain - you can find it in the below link:
2- Supply weighted moving average:
I recently published BTC-leading SOPR. You can find it at the following link:
According to this chain metric, bitcoin still has a downward bias. This metric has also never descended overlow area in this cycle. This means that the bottom has not yet occurred.
despite the positive Onchain metrics such as a Decrease of bitcoin inflows to exchanges in the last 24 hours, a decrease in exchanges reserve, reduce in CDD, and Dominant long sentiment in the Funding Rate metric, Bitcoin seems to be forming a descending triangle, which is usually associated with a breakdown
In this post, I want to examine the market bottom area based on technical indicators and onchain metrics.
In the last two cycles, the RSI value in the market bottoms has been between 43.6 and 44.8 in the monthly timeframe.
RSI Value is 46.94 now. this is not far from the previous two values, but they were slightly less than this...
V/T RATIO = MA (7) of Log ((THE TOTAL VOLUME OF BITCOIN TRANSFERRED ONCHAIN IN USD)/(THE TOTAL AMOUNT OF TRANSACTIONS)
The above description is taken from the cryptoquant and account ghoddusifar
Of course, the path will not be so easy, there are many ups and downs ahead
V/T ratio is a new Onchain metric that I published recently in Tradingview. To check this Onchain Metric Please check the link below:
this indicator is based on THE TOTAL VOLUME OF BITCOIN TRANSFERRED ONCHAIN IN USD and THE TOTAL AMOUNT OF TRANSACTIONS. I have explained the phases of the market based on this metric in the link above.
When it is high, it means...
The price is at the support level of July 2021, but the situation is different from that time
The situation is different from July 2021, when Bitcoin was in the same range of $ 30,000.
The US dollar index, which has a negative correlation with bitcoin, is increasing
The US stock market has lost support levels and is in a downtrend
The buyer to seller ratio is in...