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...
Hello 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...
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 will...
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.
In this post, I want to examine the market bottom area based on technical indicators and onchain metrics. Technical indicators: 1- RSI: 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 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 summary of onchain indicators: Miners position index (MPI): + 129% 24h% Binary CDD: +257% 24h% Active Sending Addresses: + 24% 24H% Bank reserve: -60% 24h% Exchanges netflow: +228% 24h% these onchain indicators show the sales pressure in the market
The number of wallets with more than 1,000 bitcoins has grown by about 8% since February this year, but that will not be enough to reverse the bitcoin trend. We are witnessing a decline in the reserves of banks and miners. This is a sign of their bitcoin sales in recent months, and despite the relative decline in exchange reserves, it is still very high. More...
the number of spent transaction outputs is increasing. This could be due to increased sales last week, which led to lower prices. Simultaneously with this event, we see an increase in the sales ratio in the indicator of Taker Buy Sell Ratio chain, which indicates an increase in the number of sellers compared to buyers.
This indicator is the number of unique addresses that appeared for the first time in the bitcoin transactions. We can use it to identify distribution areas. According to Wyckoff in distribution areas, long-term holders sell their stocks (coins) to newcomer investors. Accordingly, in the distribution area, we should see a peak increase in the number of new...
Consider the following. These can indicate the possibility of creating a new local top in the coming days: 1- Taker buy to sell ratio increased 2- there was significant outflow from exchanges 3- drop the exchange's reserve These could indicate the purchase and exit of bitcoins from the exchange by short-term investors. There is also the possibility of a local top...
By Combining technical analysis, price action, and onchain analysis, it seems BTC is facing a strong downtrend Consider the following: After the 200-day moving average break-down, Bitcoin retested it, but failed to break it up and finally respected it. At the bottom of the short-term channel, a pin bar has formed, indicating a reduction in higher prices In the...
In recent days, we are witnessing an increase in Open Interest (one of the Onchain indicators). Open Interest is defined as the number of open positions (including both long and short positions) currently on a derivative exchange's trading pairs. As Open Interest (OI) increases, it indicates more liquidity, volatility, and attention are coming into the derivative...
Onchain Indicators show an increase in bitcoin sales by miners and short-term investors A summary of the onchain indicators is written on the chart. These indicators confirm what the technical indicators show. This sale will reduce the price of Bitcoin and create a local bottom. The value of this local baton will determine the next trend of BTC (see the idea below)
MPI: Miners' Position Index (MPI) is the ratio of total miner outflow (USD) to its one-year moving average of total miner outflow (USD): the value of this indicator is in its highest value Since March 2021 MPI= 4.22 Higher value shows that miners are sending more coins than usual which indicates possible selling. USDT reserve is climbing: in general, when the...
the chart shows the NVM ratio. This oscillator works to compare the current value of the Bitcoin with its true value based on the Metcalfe Ratio Necessary explanations about this oscillator are given in the following link. In the analysis that has been observed in recent days in Trading View, some analysts consider the current situation as a range of accumulation...
Is the current price the market bottom of bitcoin? We examine the answer to this question based on 3 on-chain ratios. The NUPL value has been lower than 0.25 and 0 in the previous market bottoms. The NUPL is 0.37 now and is in a downtrend. Therefore bitcoin is likely to experience lower values before the start of the next uptrend. The MVRV ratio Says "No" to...
2022/1/21 Best buy-point will appear! COINBASE:ETHUSD COINBASE:BTCUSD The condition of market is still healthy, and the ETH exchange reserve continues to decline, best buy-point will appear. See the CryptoQuant (ETH reserve) chart that I mapped: upload.cc/i1/2022/01/21/SfI7hY.png The market is in the process of long-squeeze, and this long-squeeze is...