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Glassnode

Bitcoin Supply ZoneHello traders 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 will call it a correction for a bullish trend. I screenshotted a metric from Glassnode called realized Profit/loss Ratio, which shows that most of the network wallets are currently in profit. This is a risk for a price. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
Short
by Crypto_MD
Correction of BitcoinHello Traders As you can see in the chart above, Bitcoin is currently in a resistance zone which can cause capitulation. I Screenshotted a metric from Glassnode called addresses with a supply of more than 1K, Which decreased drastically in the previous bitcoin bullish movement; this alone can confirm the technical scenario. On the network data side, I saw most of the bitcoins that moved in the last day were mostly in profits—another risk to the price. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
Correction and pullback For BITCOIN!!Hello Traders, As you know, Bitcoin has rallied in the past few days, but it did not get corrected ever since. Technically on the Logartmic chart, bitcoin has broken out of its bearish trendline. I expect the price to test its previous levels to get more liquidity to continue its bullish movement. On the Onchain side, Long term holders moved their bitcoin in more than nine times in profit, which is a severe risk to the price. On the other metric I screenshotted from Glassnode, you can see that at the top of the price (today), Wallets moved their bitcoin in profit with a value of more than 60 million dollars. These two scenarios can confirm that a correction or a pullback is coming for the price. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
Short
by Crypto_MD
2
INFLATION RATE AND BTC MOONHello Traders As you know, the inflation rate decreased to 6% in the past day, this news created a significant bullish movement for Bitcoin Price, but don't get FOMO, Yet. As you can see Bitcoin's overall Technical shows that, the price is still in a bearish phase in the bigger picture, and is currently on an excellent resistance level, both Dynamic and static. On the Onchan side, I screenshotted a metric called Net realized Profit/Loss, Net Realized Profit/Loss is the net profit or loss of all moved coins, the value shows that the whole network was moving their bitcoins in profits today, which can cause a reversal in the bullish trend. Overall I can see a Correction or consolidation for bitcoin before the bullish phase. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
2
Risk in the marketHello Traders Bitcoin moved yesterday as we predicted with on-chain data; you can see it in the previous idea. I screenshotted a metric today called ASOL from Galssnode; Average Spent Output Lifespan (ASOL) is the average age (in days) of spent transaction outputs. This measured value has spiked today, which means that there will be a possible risk to the price. On the technical side, the price is still in a supply zone, so I believe the price can consolidate today and even maybe have a correction. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
5
Correction and Pullback of BITCOINHello Traders As you can see in the chart above price has broken the higher levels, and now it needs a correction to continue its movement. On the Onchain side, I screenshotted a metric from Glassnode called Long term holders SOPR; the Spent Output Profit Ratio (SOPR) is computed by dividing the realized value (in USD) divided by the value at creation (USD) of a spent output. Or: price sold / price paid and LTH SOPR only calculate it with wallets older than 155 days which are long-term holders. The value in the chart shows that long-term holders are spending their bitcoins in 5x Profit since they bought; this alone can create a risk to the price since they are long-term holders who sold their bitcoins. Price can see a slightly higher level and start to correct itself, and the correction might continue if the holders keep selling their bitcoins. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
3
High BITCOIN network activity (Correction)Hello Traders As you can see in the chart above price had a bullish momentum; in the past week, Dollar Index had a death cross and decreased, which can sustain this bullish movement of bitcoin. On the Onchain side, I screenshotted a metric from Glassnode called Net realized Profit/Loss, which is the net profit or loss of all moved coins. The metric value has decreased drastically, indicating a bullish price move. Massive on-chain activities showed that old wallet had also moved their bitcoins in a loss. Indeed, there is a risk of volatility for the price, but I can see a correction before the continuation of the price, and I believe price can see higher prices. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
5
Bitcoin 2023 First UpdateHello Traders First of all, happy 2023, wishing you all a profitable year. I started my analysis and will post daily, except on the weekends. As you can see in the chart above, the price was ranging in the previous weeks due to the holidays and volume decrease. I saw a significant movement in the network today, and I believe price can see higher prices, but first, the price needs a correction before the price continuation. I screenshotted a metric from Glassnode called net Realized Profit/loss, which shows how much of the moved bitcoin was in profit or loss. Since the network mainly was in profit, we can indicate that the price can have a correction to lower levels. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
5
Correction before continuation on Bitcoin Hello traders As you can see in the chart, we predicted the market move in the previous post, I see there is a FOMO on the buying side, but some of the old wallets are selling their bitcoins. I Screenshotted a metric from Glassnode called supply held by address with 100 to 1k Bitcoins. This metric has decreased today, which means the price can see lower levels which I highlighted, and after that, it can continue the bullish trend to create that overall pullback. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
8
Intraday Price Movement & OnchainHello Traders In the past few years, the volume of bitcoin has decreased each time Christmas and New Year are close. This can also be seen in the candles; we might see less volatility in the price. So let's dive into today's analysis; as shown in the chart above price is consolidating after the bearish momentum. On the On-chain side, I screenshotted two metrics from Glassnode to show you how crazy today's On-chain activities are. Coin Days Destroyed (CDD) for any given transaction is calculated by taking the number of coins in a transaction and multiplying it by the number of days since wallets last spent those coins. So there was a spike in CDD, showing us that there's a risk in the market. On the other hand, the realized loss shows that so much bitcoin was transferred in loss, meaning the price can see a bullish movement today. I still stick with the previous analysis I shared. For today I see bullish consolidation or a bullish breakout, and for upcoming days I see a pullback that I mentioned in the previous post. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
6
BTC Pullback to the Ascending Channel Hello traders In previous days, significant events reversed the bitcoin trend, including SEC and Binance and federal Reserve Powell Speech. We predicted that the price needed a correction in the previous post. As you can see in the chart, the price corrected itself to the 0.618 Fibonacci level and now might consolidate over the weekend. On the On-chain side, wallets with more than 100 bitcoins(the picture in the chart from Glassnode) are increasing today, meaning that we can see a correction in this downward trend as well. Since CZ and quant are also clarifying the liquidity of Binance, the sentiment might suggest a cool-down on the price momentum. The price can pull back to the broken channel with technical, On-chain, and sentiment analysis. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
Long
by Crypto_MD
8
BITCOIN RALLY & EXCHANGE BALANCESHello Traders As you can see in the chart above, it has started to rally due to the recent CPI Report. The macroeconomy has a direct influence on high-risk assets, so always keep a watch on macroeconomic analysis. On the Onchain side, Smart wallets have slowly accumulated bitcoin in this 1000$ range of bullish momentum. I screenshotted a metric from Glassnode Called Exchange balance which shows that assets on exchanges were withdrawn during this accumulation phase, meaning that we can see higher levels for bitcoin in the coming days. On the market side, for the first time in previous months, accounts that were long on bitcoin are more potent than the shorts, and trading volume is back online. On the other hand, technical analysis shows a great price bullish momentum and a bullish flag. Still, the price needs a minor correction and liquidity to continue the upward trend. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
Long
by Crypto_MD
9
BTC Pullback to TrendlineHello traders As you can see in the chart, I prepared the analysis to share it sooner, but something came up and I forgot to publish it, anyway better late than never. Bitcoin price has fallen drastically yesterday as predicted in the previous analysis. As of today, I'm expecting the price to make a pullback to the main broken trendline, since the on-chain data is also showing that there was an accumulation of 100 to 1k wallets in this area (not so much). On the other hand, I put a metric here called LTH SOPR which shows if wallets are moving their bitcoin in profit or loss, above 1 means they moved their bitcoin in profit and below 1 means they moved them in loss, as you can see, the metric is showing a 0.4 value in the very low chart and I think that gives a bullish insight on the price that bitcoin right now is consolidating. I expect that after the pullback we might see a continuation of bearish momentum. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you won't miss the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
6
BITCOIN BEARISH MOVEMENT WITH ONCHAINHello Traders and analysts. As you can recall from previous analysis, Bitcoin had a bearish movement, and we also predict it. I screenshotted a metric in Glassnode that shows the supply of wallets between 1K to 100K. This chart is hourly and shows today's movements between wallets; as you can see, the value has decreased today. This chart indicates that correction might continue, and the price can see lower levels. On the technical side, the price has formed a head and shoulder pattern and has a bearish momentum in every candlestick that shows this price is not the right place to buy, and the correction might continue. Note that this is a short-term analysis and is only valid for a couple of days (or just a couple of hours). ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you won't miss the updates. The information given is never financial advice. Always do your research too. Good luck.
Short
by Crypto_MD
4
Bitcoin Short Term Fall / PULLBACKHello Traders and analysts As you can see in the chart above, bitcoin price has a bearish movement, but the question will be, will it continue its trend or not? I took a screenshot from Glassnode from a metric called the number of addresses> 1K, and this metric shows precisely what the name says. These wallets are ingenious and can lead the market movement. As you can see, these wallets are also declining; this shows that they are probably not finding this price (in this timeframe) an accumulation price, so when there are no buyers, what would happen? Yes, it will continue to correct itself. That's my thoughts, and I think the price can have a pullback to the trendline that has been broken (Upper Yellow Trendline in the chart) by the buyers. Note that this is a short-term analysis and only valid for a couple of days (I mean, look at the timeframe. It's 4H). ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you won't miss the updates. The information given is never financial advice. Always do your research too. Good luck.
Short
by Crypto_MD
⚡️ #BTC OUTLOOK - 20/07⚡️⚡️ #BTC OUTLOOK - 20/07⚡️ We have arguably broken the range that we are in although it is definitely on the edge. At the moment there is still a sizeable amount of shorts above us (approx. 1k BTC on Binance - doesn't seem huge but relatively it is pretty big). The worst thing that can happen is losing $22.9k then I feel it would be a bit of a collapse back in to the range heading quickly to $21.8k and then ultimately about as low as $20k. The bullish scenario which I am slightly leaning towards is that we consolidate here for a day and eat away at the shorts before pumping through, the short/mid term target here would be $27.3k to $28.8k to basically fill the CME gap. What to watch out for? Any FUD, if it is going to drop then it will drop whilst we are trying to break out of this key resistance so please be wary of that. We are at the mercy of order books that can be unreliable to be exact but do help gauge sentiment quite well usually. Further on-chain data - is suggesting that we are coming up to a pretty important bullish turning point Source: Glassnode #Bitcoin is currently in the process of breaking above three long-term pricing models: - Realized Price (average cost basis) - Long-Term Holder RP (Cost basis of LTHs) - 200-week Moving Average
by Kryptochristian
Bitcoin HODLers who have held for more than a year vs BTC priceIntro: Do Bitcoin HODLers fail to take profits at the right time? Do they avoid capitulation at the worst time? Do they sell early in the first rally after a bearish period? The recent data says yes, but that's a change from pre-2021 where HODLer behaviour appears more rational. What changed? Description: Here is the Bitcoin price for the last decade and I've added Glassnode's data (orange line) showing the Bitcoin HODLers holding for over 1yr. I thought it was revealing when HODLers failed to be rational. This seemed to become a bigger problem since the start of 2021. I've marked the local market bottoms with the smiley face to indicate that no one should be selling bitcoins they've held for over a year at this time. Any point near those smiley faces is a time to HODL for sure, yet people often capitulate or sell at the earliest opportunity. The orange line shows people HODLing when it rises upwards and selling when it comes down lower. The indicator at the top is the BBWP measuring volatility. The indicator at the bottom is showing fear and greed sentiment in the broader market. I forgot to remove these, but perhaps someone will find them useful. The indicator showing whether Bitcoin is overbought (maroon fill) or oversold (lime fill) is publicly available under the name "Abz Bitcoin Investor".
INDEX:BTCUSD
by Abzorba
Analyzing Bitcoin's macro market structure with SOPR Toolkit SOPR stand for Spent Output Profit Ratio. It’s a Bitcoin on-chain metric that shows whether Bitcoin spent outputs (UTXO’s) are being realized in profit or loss. It’s calculated by dividing realized value by the value at creation (price sold / price paid). SOPR servers as a great short/mid-term indicator. Using the Glassnode BTC SOPR Toolkit , we can get insight into Bitcoin's macro market structure using a long timeframe (100 day) moving average. Indicator - Glassnode BTC SOPR Toolkit SOPR Toolkit Settings: - Chart: 1 Day - Moving Average Length: 100 - Moving Average Type: Volume Weighted Exponential Moving Average (VW-EMA)
BITFINEX:BTCUSD
by JBroadway
2
Detailed LiteCoin analysis with Glassnode and BTCHello. I believe in a rise of LiteCoin, and here I present the reasons. Contextualization Litecoin was the first major altcoin to be created after the emergence of Bitcoin, in order to reduce transaction costs. Some analysts say it is outdated, as Bitcoin is already able to solve this problem through the Lightning Network. However, it is noteworthy that the Lightning Network is not yet widely adopted. Some exchanges and wallets are supportive, others are not. Furthermore, although there are other cryptocurrencies with the same purpose, and which technologically might even be better (for transfer), the fact is that there is still no definitive solution for this. For example, some exchanges support Stellar Lumens (XLM) and some do not. As LiteCoin is widely adopted by most exchanges, if the individual simply wants to make a transfer without paying a high fee, Litecoin ends up breaking that branch. And in Glassnode's on-chain data, I see bullish data. So I don't see a problem with holding Litecoin. LTC/USD On the weekly chart we can see an upward expanding wedge. If the bullish cycle continues and the price breaks the last resistance of $400, the price will explode upwards with a possible high of ~500%. LTC/BTC On the graph against Bitcoin, we have a descending triangle. If the price breaks up, the next resistance is at 50% of the Fibonacci retracement, with an approximate 50% gain potential in BTC. Glassnode Analysis 1. Total USD Volume The total amount of coins transferred on-chain. Only successful transfers are counted. -> It reached the historical maximum in September/2021. He is about to retest that. 2. Number of New Addresses The number of unique addresses that appeared for the first time in a transaction of the native coin in the network. -> The value broke the historic high of January/2018, and since August/2021 it has been reaching new highs. 3. Number of Active Addresses The number of unique addresses that were active in the network either as a sender or receiver. Only addresses that were active in successful transactions are counted. -> The value broke the historic high of January/2018, and since August/2021 it has been reaching new highs. 4. Price Drawdown from ATH The percent drawdown of the asset's price from the previous all-time high. -> When the value reaches the top, the whales are making considerable profit since the last support. At that time comes the dump of achievements, and it's best to get out. We haven't reached the top yet, so there's room for more climb. Summary Fundamentally speaking, Litecoin may not be the best payment method currency. Bitcoin will sooner or later have solved the transaction cost issue. However, while this does not happen, it still serves as a means of escaping high rates, because like it or not, it is widely adopted in several wallets and exchanges. In addition, some ETFs and institutional players have a portion allocated in Litecoin. and sometimes altcoins go up more than Bitcoin. Good winds!
Long
by andre_007
2
Bitcoin price forecast using crystal ballHello. Another analysis of Bitcoin follows, this time using geometric graphical patterns and three blockchain indicators. Price analysis Over the longer term, we can see that we are below a bullish yellow channel. This has been happening since December/2018. Since then, the price has tried to break through 2 times. If we continue with the current trend (which is bullish), the third time the price will reach U$87 thousand, and later on, U$141,000. Looking back, when trying to break the rising wedge the third time, the price plummeted down (in an ascending wedge we have the exhaustion of the buying force). On-Chain Analysis The Puell Multiple Puell Multiple can be interpreted as "If all mined bitcoins were sold immediately in the market, how profitable mining pools are compared to last historical one year?". This metric helps traders gauge the market cycles from the global view. When the value exceeds the orange dotted line, we have a profit taking, and consequently a price drop. Spent Output Profit Ratio (SOPR) "The Spent Output Profit Ratio (SOPR) is computed by dividing the realized value (in USD) divided by the value at creation (USD) of a spent output. Or simply: price sold / price paid. " When we hit the red dotted line or break it, we hit the top and right after that comes the price drop. New addresses "The number of unique addresses that were active in the network either as a sender or receiver. Only addresses that were active in successful transactions are counted". The two times the value reached the historic high, we had a drop in price. Finally So, based on all of this I made a price prediction, with a little black humor. Good winds!
INDEX:BTCUSDLong
by andre_007