ðĪ #BTCLIVE - 16.08 - #IDEA ðĪ
ðĪ #BTCLIVE - 16.08 - #IDEA ðĪ
Snapshot:
Short-Term
20:80- Bullish:Bearish
Long-Term
60:40 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Consolidating below key resistance at 24.2k - we have to get above this and consolidate above or pump through with big volume to test
25K - this will require additional huge volume to break through given the previous heavy rejections. Breaking 25K and either consolidating above or confirmed retest then 
27K and 30k will be the targets
Bearish Scenario:
More likely scenario rn, consolidating below key resistance with volume diminishing a big move is expected with the first stop being 23.5k breaking through and retesting will probably confirm 22.7k and max pain here would be likely be 20k region at the bottom of the macro channel/range. There is an ultra bearish macro descending wedge that can see a possible 16k come in if it plays out although this would require some elevated FUD to drive down that far.
Bullish Factors:
Bullish Factors:
+ Long term trend support
+ Bullish Divergence
+ Bullish CME Gap
+ 20 and 50 DEMA lying in support
Bearish Factors:
- Consolidating under key Resistance
- Under all EMA's and testing the 200EMA
- Exhaustion on the Daily
- TD6 on the Weekly
- McFly Incoming on the Weekly
- Wave Peak on the Daily
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ ðĨRevolut gets approval to offer #Bitcoin and crypto in the European Economic Area.
+ Fed Reveals Guidelines for Crypto Banks Who Want to Open âMaster Accountsâ [cryptonews.com] (cryptopanic.com/news/16061703/Fed-Reveals-Guidelines-for-Crypto-Banks-Who-Want-to-Open-Master-Accounts?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram)
Bear:
- Huobi #crypto exchange has announced that it will suspend derivatives trading in New Zealand.
- Bear Market Rally Google Searches almost at an ATH
Metrics:
Exchange
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure.
- Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.
Miners
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
On-Chain
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
+ Net Unrealized Profit and Loss (NUPL) -Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses.
+ Transfer Volume - The total number of coins transferred has increased by 9.00% compared to yesterday.
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Sentiment
+ Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
Derivatives
+ Funding Rate - Long position traders are dominant and are willing to pay to short traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominant in the derivatives market. More sell orders are filled by takers.
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend - Last Value: 9,142,523,051.97 24H%: -8% 7D%: -9%
- Liquidation - 15823977.54 of short positions were liquidated in the last 24 hours.
Fear & Greed Index - Aug 16, 2022:
Today: 44 (Fear)
Yesterday: 45 (Fear)
Avg. 1W: 42 ð
Avg. 2W: 37 ðĢ
Avg. 1M: 34 ðĢ
Avg. 2M: 25 ðą
Avg. 3M: 20 ðĐ
Avg. 6M: 24 ðą
Avg. 1Y: 35 ðĢ
ðļ #Bitcoin
Price: $24,176
24h Low: $23,848
24h High: $25,093
MC Change: -2.7B (-0.6%)
Dominance: 38.4%
24h: -0.6%
7d: 4.2%
14d: 3.4%
30d: 16.3%
60d: 7.3%
200d: -34.4%
1y: -48.7%
Snapshot:
Short-Term
20:80- Bullish:Bearish
Long-Term
60:40 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Consolidating below key resistance at 24.2k - we have to get above this and consolidate above or pump through with big volume to test
25K - this will require additional huge volume to break through given the previous heavy rejections. Breaking 25K and either consolidating above or confirmed retest then 27K and 30k will be the targetsBearish Scenario:
More likely scenario rn, consolidating below key resistance with volume diminishing a big move is expected with the first stop being 23.5k breaking through and retesting will probably confirm 22.7k and max pain here would be likely be 20k region at the bottom of the macro channel/range. There is an ultra bearish macro descending wedge that can see a possible 16k come in if it plays out although this would require some elevated FUD to drive down that far.
Bullish Factors:
Bullish Factors:
+ Long term trend support
+ Bullish Divergence
+ Bullish CME Gap
+ 20 and 50 DEMA lying in support
Bearish Factors:
- Consolidating under key Resistance
- Under all EMA's and testing the 200EMA
- Exhaustion on the Daily
- TD6 on the Weekly
- McFly Incoming on the Weekly
- Wave Peak on the Daily
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ ðĨRevolut gets approval to offer #Bitcoin and crypto in the European Economic Area.
+ Fed Reveals Guidelines for Crypto Banks Who Want to Open âMaster Accountsâ [cryptonews.com] (cryptopanic.com/news/16061703/Fed-Reveals-Guidelines-for-Crypto-Banks-Who-Want-to-Open-Master-Accounts?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram)
Bear:
- Huobi #crypto exchange has announced that it will suspend derivatives trading in New Zealand.
- Bear Market Rally Google Searches almost at an ATH
Metrics:
Exchange
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure.
- Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.
Miners
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
On-Chain
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
+ Net Unrealized Profit and Loss (NUPL) -Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses.
+ Transfer Volume - The total number of coins transferred has increased by 9.00% compared to yesterday.
- Active Addresses - The total number of active wallets used to send and receive coins has decreased by 15 .00% compared to yesterday.
- Transactions - The total number of transactions has decreased by -12.00% compared to yesterday.
Sentiment
+ Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
Derivatives
+ Funding Rate - Long position traders are dominant and are willing to pay to short traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominant in the derivatives market. More sell orders are filled by takers.
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend - Last Value: 9,142,523,051.97 24H%: -8% 7D%: -9%
- Liquidation - 15823977.54 of short positions were liquidated in the last 24 hours.
Fear & Greed Index - Aug 16, 2022:
Today: 44 (Fear)
Yesterday: 45 (Fear)
Avg. 1W: 42 ð
Avg. 2W: 37 ðĢ
Avg. 1M: 34 ðĢ
Avg. 2M: 25 ðą
Avg. 3M: 20 ðĐ
Avg. 6M: 24 ðą
Avg. 1Y: 35 ðĢ
ðļ #Bitcoin
Price: $24,176
24h Low: $23,848
24h High: $25,093
MC Change: -2.7B (-0.6%)
Dominance: 38.4%
24h: -0.6%
7d: 4.2%
14d: 3.4%
30d: 16.3%
60d: 7.3%
200d: -34.4%
1y: -48.7%
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