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Bitcoin USD Ready for the super Rush to the bullrun! [LONG]Bitcoin on-chain signals have remained green despite the recent red week. Bitcoin’s price had taken a plunge towards $40K and had brought a lot of losses with it as billions of dollars in long positions were liquidated on December 4th in one of the sharpest declines of the year. Mostly this has brought down a number of metrics associated with the asset but on-chain signals remain resistant. On-chain data all ranging from miner revenues, transaction fees, hashrate, and daily transaction volumes have all shown positive trends for bitcoin. None of this has been affected by the price decline. Bitcoin hashrate had taken a big heat with the China crackdown on mining that took place earlier in the year. The region had gone from providing about 70% of the mining power to almost zero in a matter of weeks, leaving the hashrate to suffer greatly. This has since been rectified as bitcoin miners have found new locations to resume their mining activities. Since then, hashrate has been gradually picking back up and in the past week saw a significant increase. Bitcoin hashrate is up for the past seven days after the first difficulty reduction following ten difficulty adjustments. As the difficulty has dropped, so has the profitability of mining activities increased. Given this, more miners have gotten back in the game and set up their mining rigs once more, leading to a rise in hashrate. Arcane Research also reported that this increased hashrate has led to an increase in block production rate. As more miners come back on board, an average of 6.46 blocks have been created each hour in the past week. This represents a significant increase of 11% in the same time frame. Bitcoin transactions fees have remained low through the past weeks, but there was a recorded increase in fees in the past seven days. On average, bitcoin transaction fees grew by 33%. This growth however does not do much for miner revenue. Even though fees are up, they are still relatively meager and only bring in about 1.7% of the total miner revenues. Average transaction value also jumped in the past week. As investors rushed to sell their holdings during the crash, the average transaction volume climbed by 8.3%. This was mostly due to holders who hold larger volumes moving their BTC to exchanges to sell, not only increasing average transaction volume, but also transaction fees at the same time. Bitcoin daily miner revenues in the first week of December was $52,271,223 compared to daily revenues of $49,975,895 from the previous week. Fees per day, as well as transactions per day, were up at $891,499 and 276,680 respectively.
by SolanaMemeCoins
btc 12-7 update~Good morning peoples, One of the mods didn't like my btc update post from last night, and took it down. Still not entirely sure why, he's never even responded to me. ---- anyways, Btc is currently in a daily squeeze, and it's pushing through every technical level I had envisioned for it. This is common during corrective phases, as the market works it's way up to the level it wants to reach before breaking. If this does play out, I'm looking for around 52.5~53.5k as my next area for a short attempt. This area has a massive vortex of confluence, and if it's going to reject anywhere, it's going to have to be from there. 👇 Pushing through this area & holding + consolidating up there for a few days could signify that the bottom is indeed in, and we have completed our primary wave 4 correction through a running flat. 👇 If we do have one more leg down to go, I'm looking for anywhere between 37~34k as the local bottom for our expanded flat target. 👇 no confirmation = no positions for me. patiently waiting from here.
by notoriousbids
2
Bitcoin | Descending Broadening Wedge Formation..!!#BTC (Update) In 4h timeframe, Bitcoin is Forming Descending Broadening Wedge Pattern..!! Inside the Broadening Wedge, There is a Bearish Flag Pattern as well so If Flag Broken Downside, Bitcoin Might Retest the $43600 📉 Overall, I'm Still Expecting a Massive Bullish Wave towards the 70,000 in December 🏄‍♂️ Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!!
Long
by Faibik
10
Bitcoin | Getting Ready for Another Bull Run..!!#BTC (Update) In Weekly TF, Descending Broadening Wedge Upside Breakout Already Done, Retesting in Process 🔁 In Case of Successful Retest, Be Ready for Another Bull Run ✍️ Daily Timeframe Analysis Daily Candle Closed Above the $50,000 ☑️ Now, Bitcoin Bulls Need to Reclaim the MA128 (52,6k) & 53k Horizontal Resistance. If 53k Resistance got Cleared, Expecting Massive Bullish Wave towards the 70,000 & In Case of Rejection, Next Stop would be 40,000 ✍️ 3-days Candle Closed Above the Major Trendline Support ✅ If #Bitcoin Remains Above the Trendline, Still Expecting Bounce Back towards the 64k Major Resistance Area. 🏄‍♂️ Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!!
Long
by Faibik
198
HEX no more bearish until...Hex regained BB daily middle line...it is NEUTRAL as long as it keeps support 0.228cents...to start looking bullish ,price needs to retest and close above BB uppper line (which now traveling at 30c ish but closing down) DMI bears and bulls are "fighting" under the critical 25 with ADX line slopping downwards....that shows a clear loss of bear momentum ... In a big ,60,70,80% DIP like HEX had,a recovery is never straight forward .So we do expect some retracments at some point.If price starts to close under 22cents ,next pshilogical target is 20 and the BIG one ,18cents. If 18cents wont hold ,price could retest prior low (14c ish ,forming a double bottom) or it can reach our target 10-12cent zone...that would be a lower low on the grand scheme, with a higher or equal low on RSI (bullish div) This 10-18c zone is a "muddy" zone ,there are some clear bottoming and accumulation signs.
by Sam111
1
I'm not saying it was Tether, but it was Tether.The orange is tether supply, the red is what some people pay for a bitcoin. Understand Bitcoin is a computer program franchise. If you want to run an exchange you can buy a franchise API for a few million and you will have access to the Bitcoin market. A fraudulent market painted by computer coders and their bots at the behest of the secret trillionaire world elite for their personal amusement as they await evacuation to the Mars and Titan colonies. The trillionaire world elite shall watch the destruction of the Earth, which they wrought over millennia to get filthy disgusting rich by flaying pleb dreams alive, laughing at a safe distance in the comfortable surroundings of their space pods. Their children shall populate the stars and spread their DNA across the universe, spawning more idiotic plebs for future exploitation whilst preserving their pure and godly bloodlines. They will see, feel and know things you could never even comprehend. They are Darwin's winners, you his losers. Your sole purpose in existence is to remove junk from the gene pool. You think you can play their game? Prepare to lose everything.
INDEX:BTCUSD
by Deep_Fud
2
Santa rally cooking...After the latest moves there is a strategically interesting structure setting up for the year end flows. Here I am tracking a pullback towards $52,000 support for an opportunity to load for the next exchange. In desperation, late buyers succumbed to the fomo which was buying the highs while sharp hands are taking profits (very similar to our latest ETH charts). Now that the highs have been taken, profit taking becomes apparent. This excellent setup is remarkable not only for the transfer of the momentum, breakout, retrace, breakout, nowadays we consider wave 5 to meet at least the length of wave 1 which will take us at least above $75,000 with extensions (unbelievable) all the way at $217,000.
BITMEX:BTCUSD.P
by ridethepig
12
btc 11-27 update~i notice that btc's price is contracting, while btcusdlongs are starting to rise. this divergence between btc & whale longs is very bullish. we also have some really nice money flow \ rsi divergence on the larger frames. i also noticed that a lot of btc miners look primed for a big run. will share my few setups after i see what the usa market looks like on monday. --- i think we dance around this lower region for a few more days before taking off. expect the unexpected though, anything is possible in the world of crypto, especially during these wicked times.
by notoriousbids
6
btc long swing ~good evening, i think btc has begun a mean retracement after the completion of a 5 wave move. during this time, i dont expect any parabolic moves for btc, just a slow grind up before further downside. alts can perform very well during this time, but be careful with them. i do think we've entered into a larger bearish phase just based of everything that i've been seeing today. will post little swings periodically, but ultimately i am mostly sitting in cash until this correction is resolved. Wave C target = $58,400
Long
by notoriousbids
2
Bitcoin | December will be Bullish..!! #BTC (Update) In daily timeframe, Bitcoin has been Moving inside the Ascending Channel..!! At the Moment, Ichimoku Cloud Acting As Strong Support.. 9th TD Buy Candle Printed as well..✔ In case of Bounce Back, #Bitcoin Might test the 78,000 Mark in December. In Worst Case, If Ascending Channel Broken Downside, Bitcoin Might Retest the 38-40k Support Area..!! Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!!
BITSTAMP:BTCUSDLong
by Faibik
1