Get started

Btcindex

Bloody Christmas? [Bitcoin and Altcoins with unusual movement]Hi. Looking at some on-chain data on several blockchains, we have an unusual movement. Price Drawdown from ATH The percent drawdown of the asset's price from the previous all-time high. When the value is equal to zero, we have no drawdown. When it is less than zero we have a drawdown multiplied by 100 (percentage). When the indicator hits the top several times at zero value, it indicates a lot of profit taking. And when it reaches a value less than -0.50, it indicates a lot of loss taking (a huge drawdown). Since nothing lasts forever, either for good or for bad, this indicator serves to demonstrate the exhaustion of both sides, bulls and bears alike. What the graphic indicates: now a maximum drawdown of 100% has been reached since the last all-time high. Surprisingly, this was higher than the historical value of -0.92 in November/2011. What can we interpret from this abrupt drop? Perhaps market players agreed to divest their positions at any cost to avoid further losses. But looking back, the deeper the better the price to buy. Mean Transaction Fees in USD The total amount of fees paid to miners. Issued (minted) coins are not included. High fees mean paying to perform a transaction at any cost! When rates peaked, the price fell shortly thereafter. Will it happen again? I do not know. Mean Transfer Volume in USD The mean value of a transfer. Only successful transfers are counted. Looking at this indicator, when we have an increase in volume, we have a price increase. And when we have a decrease in volume, we have a drop in price. Right now we have a trend towards increasing volume. As with the fees indicator, we had a peak in this volume, and generally after that we have a drop in price. Conclusion Caution is required. The on-chain data is diverging. The Price Drawdown indicates a great time to buy, because when it reaches the maximum drawdown, right after the price goes up. On the other hand, unusual transfers and fees indicate a possible downward movement. However, it should be noted that it is not because an event occurred in the past that it will necessarily be repeated in the future. These indicators are just an auxiliary tool. The best indicator that exists is the price itself, and it will tell us what will happen from now on.
INDEX:BTCUSD
by andre_007
1
The dominance of stablecoins as a divergence tool in BTCOn the top chart we have the BTC/USD index, and on the bottom chart we have the sum of the dominance of the main stablescoins: USDT, USDC, DAI and UST. As a rule, when the dominance of stablecoins rises, the price of BTC falls. Just look at the respective numbered arrows. The only exception was arrow number 3, which had a more lateral movement in the dollar's dominance. Now looking at this exact moment, we have a rise in stablecoin dominance. The next resistance is at 7.75% (if dominance continues to rise).
INDEX:BTCUSDEducation
by andre_007
Market in troubled time, including BitcoinHi. Hope you all are well. Price analysis Considering the Arnaud Legoux averages, I can see the strength of the trend within the price chart itself. What we have? The average of 32 (green) has crossed below the average of 64 (blue), and there is now an expansion in width between these two averages. And the average of 128 (white) started to slant down. This indicates a fall in the short and medium term. The averages of 256 (yellow) and 512 (orange) still point up, but tend to sideways, indicating possible support and resistance. Hard time to predict. In a possible bigger drop, theoretically the next support would be in the average of 1024 (cyan), and if a meteor falls on the Earth it would be in the average of 2048 (purple). In short, we see a driving force pushing the price down, at least in the short term. It remains to be seen how long this will happen. On-chain analysis Now let's look at Glassnode's indicator 'Price Drawdown from ATH', which is the percent drawdown of the asset's price from the previous all-time high. Currently, the loss of those who bought at the top is 27% (0.27 x 100). What is the crux of this indicator? The best buying region is when the drawdown reaches high values, and then there is an upward reversal. We can cite the peak of July 20, 2021, when the drawdown reached 50%. Soon after that, the market understood that it was a good region to buy, and the price continued to rise. If this happens again and the market crashes, the next good entry price would be $28,755, when the drawdown reaches 50%.
INDEX:BTCUSDShort
by andre_007
1
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
S&P Cryptocurrency MegaCap IndexHope you are all having a good weekend! NEW YORK, May 4, 2021: S&P Dow Jones Indices (S&P DJI), the world’s leading index provider, has officially launched its new series of digital asset benchmarks, the S&P Digital Market Indices. These new S&P-branded indices will measure the performance of digital assets listed on recognized open cryptocurrency exchanges. I have traced the current mega-cap index - best I can. I have overlayed it on the ETH/BTC chart as there is not YET a ticker on TradingView. The S&P Cryptocurrency MegaCap Index is designed to track the performance of the digital assets Bitcoin and Ethereum. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:ETHUSD
by Mayfair_Ventures
4
BTC DOMINANCE INDEX Percentage of Total Marcet Capitalization (BITCOIN DOMINANCE) Today we will talk about the bitcoin dominance index (Bitcoin Dominance). The current value is 47.4 %. Dynamics for the week -1.5 %, for the month +11.84 %, since the beginning of the year +26%. The Tradingview site does not allow adding an image to the text of my idea and there is no tool for analyzing the index of dominance, I share with you my "arts" at the link below: BITCOIN DOMINANCE Surprisingly, few people paid attention to this tool until recently. It interested market participants only when the inverse correlation between the growth of the Bitcoin exchange rate and the price of the Altcoins began to appear. At the same time, the dynamics of currency dependence was neutral or downward. Everything says one thing: in the cryptocurrency market, the movement of money between assets is subject to logic, so simple confidence in their growth is not enough. This requires a good reason. The reason for these reasons were rumors about the possible approval of ETF on Bitcoin and the likely growth of The latter. Later there were new opinions, and so on rolled. The rumor has spread many options for further developments, but they all boil down to the fact that the outcome will be positive. It's only a matter of time! At the same time, Altcoins tend to increase at the slightest drop in the index. For example, when the dominance index decreased from April 3 to may 4 (-20%), the value of the Ethereum coin grow up from 0.054 to 0.084 (+55%), Ripple coins (XRP) from 0.00006962 to 0.00001042 (+85%). (There are many more examples of coin growth) How to use this information? Technically, Bitcoin Dominance is in a state of strong overbought and reaches 48.4% at the moment. In addition, the correction to a decrease in Fibo, to the level of which can finish, is close to 38.2. Most likely, bitcoin Dominance will change direction and will go along the downward channel. Support for the index is at the level of 36 — 38, resistance of 50 — 54. By reducing to 39, it is possible to shift the Altcoins to Bitcoin. Upon reaching the 48 — 52, the shift Bitcoin to Altcoins. The current situation is great for buying Altcoins and selling a Bitcoin! BeNice is vigilant about the market and responds quickly to any changes. You want to be the first to know? Subscribe! It's hot!")))
BITFINEX:BTCUSDShort
by benice_trader
6