BTCBitcoinNeutralBitcoin

1/13/2023 on

SOPR can tell the transition

One of the most strongest market predictor metric is the aSOPR. it was telling us about each time the bear market really endings and also the transition to lower lows. As Macro-economic status is starting to show some easing ahead the bitcoin price spiked up once again, however will that be inevitable ? to be sure about the price movement ahead of us we should see a retest to the aSOPR rising trend then to fall down back again and transition to a downtrend so we get our confirmation.  

BTCBitcoinBullish(Nuanced)Bitcoin

12/3/2022 on

Open interest Drawbacks.

Current bear market experienced three OI drawbacks where BTC price dropped heavily each time. whats important to note that 1. each drawback is aligned with local bottoms as shown in the chart. 2. each time, there is consolidation to the uptrend until big thing happens E.g: Luna, FTX collapse. This is i believe no difference therefore we might face some time of volatility in the same range until we pass the 18k levels again, as feds are easing up and fear is at its proximate, as well as other metrics showing bottom signs.  

BTCBitcoinNeutralBitcoin

11/30/2022 on

Open interest resistance?

As BTC strikes the 17k again, we see the OI hit its new resistance level for the third time after the last sell off. Will OI cross that resistance ? or liquidity is not yet supporting this move? as we approach this level we advice traders to avoid trading until we make sure we cross this resistance or we bounce back to the support level again  

BTCBitcoinBearish(Nuanced)Bitcoin

11/6/2022 on

The effect of supply in loss

The chart provided shows that supply in loss is so effective in price corrections, especially in bear markets. Many suggest that we are out of the danger zone but the macroeconomics status is not yet reassuring and in addition to that, bitcoin investors pain is not yet met as in the previous bear cycles. which bring us to the chart here; where we are currently at the base of the trending line of the supply in loss. and the question here are we bouncing back to more pain? or we are going to move ahead to bull run state?  

BTCBitcoinBullishBitcoin

11/3/2022 on

Changing in hands and taking advantage

As price trend down post FOMC meeting, Token transaction count is showing that bitcoin is in process of changing from hand to other hand, so in looking to the accumulation trend it suggest that this change is from weak hands to strong hands as the long term SOPR back to the low levels again this moment. In addition to the derivatives CDD inflow is spiking again towards long position which supports short term increase in price. So in conclusion, Long term price rise is supported in one side by transaction counts and Long term supply movement and the short term movement is supported by the Long position sentiments.