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1/ http://checkonchain.com on-chain snapshot
#Bitcoin
Mayer Multiple is at the exact level which rejected back at the $14k peak in mid-2019. Not an improbable point for consolidation, volatility and a few liquidations.
https://checkonchain.com/btconchain/mayermultiple_pricing_usd/mayermultiple_pricing_usd_light.html
#Bitcoin
Mayer Multiple is at the exact level which rejected back at the $14k peak in mid-2019. Not an improbable point for consolidation, volatility and a few liquidations.https://checkonchain.com/btconchain/mayermultiple_pricing_usd/mayermultiple_pricing_usd_light.html
2/
MVRV Ratio and Realised Price (distance away from aggregate on-chain cost basis is into the "sell' zone. This does not necessarily mean it's over, but it does mean probability of a local top is higher ~10-15% chance we keep going.
https://checkonchain.com/btconchain/mvrv_pricing_usd/mvrv_pricing_usd_light.html
MVRV Ratio and Realised Price (distance away from aggregate on-chain cost basis is into the "sell' zone. This does not necessarily mean it's over, but it does mean probability of a local top is higher ~10-15% chance we keep going.
https://checkonchain.com/btconchain/mvrv_pricing_usd/mvrv_pricing_usd_light.html
3/
Unrealised PnL just hit Greedy as fuck Euphoria levels.
There is alot of profit in the market. I expect volatility. This is where large holders (who want cheap corn) will rinse weak hands (for their corn)
https://checkonchain.com/btconchain/unrealisedpnl_pricing_usd/unrealisedpnl_pricing_usd_light.html
Unrealised PnL just hit Greedy as fuck Euphoria levels.
There is alot of profit in the market. I expect volatility. This is where large holders (who want cheap corn) will rinse weak hands (for their corn)
https://checkonchain.com/btconchain/unrealisedpnl_pricing_usd/unrealisedpnl_pricing_usd_light.html
4/
Market-Realised oscillators are showing strong momentum impulses to the upside.
If you believe in balance in the force, that tells me we need an impulse to the downside. Gotta go down to go up folks.
https://checkonchain.com/btconchain/mrktrealgrad14day_oscillator_usd/mrktrealgrad14day_oscillator_usd_light.html
Market-Realised oscillators are showing strong momentum impulses to the upside.
If you believe in balance in the force, that tells me we need an impulse to the downside. Gotta go down to go up folks.
https://checkonchain.com/btconchain/mrktrealgrad14day_oscillator_usd/mrktrealgrad14day_oscillator_usd_light.html
5/
@woonomic NVT Price is still in a firm uptrend. Aint no way to convince me this is not a bull for the ages.
Currently down at $26.5k though, so there is a gap below.
Consolidation of some red candles into a slingshot would hit the spot.
https://checkonchain.com/btconchain/nvtrvt_pricing_usd/nvtrvt_pricing_usd_light.html
@woonomic NVT Price is still in a firm uptrend. Aint no way to convince me this is not a bull for the ages.
Currently down at $26.5k though, so there is a gap below.
Consolidation of some red candles into a slingshot would hit the spot.
https://checkonchain.com/btconchain/nvtrvt_pricing_usd/nvtrvt_pricing_usd_light.html
6/
And finally, a pretty fascinating metric by @PermabullNino measuring the value stored per byte of the #Bitcoin chain.
Huge 12yr ascending triangle breaks up, currently valued at $1.90 per byte (equivalent to 2017 ATH)
Poetic as the big dogs enter.
https://checkonchain.com/btconchain/valueperbyte_performance_usd/valueperbyte_performance_usd_light.html
And finally, a pretty fascinating metric by @PermabullNino measuring the value stored per byte of the #Bitcoin
chain.Huge 12yr ascending triangle breaks up, currently valued at $1.90 per byte (equivalent to 2017 ATH)
Poetic as the big dogs enter.
https://checkonchain.com/btconchain/valueperbyte_performance_usd/valueperbyte_performance_usd_light.html
7/
Summary
It has been a stellar run. No doubt it will continue.
But right now, my chips are on volatility, lengthy consolidation, chop and some shaking out of weak hands and leverage.
If we don't get this, we will blow-off top, and that could be a longer drawn out hangover.
Summary
It has been a stellar run. No doubt it will continue.
But right now, my chips are on volatility, lengthy consolidation, chop and some shaking out of weak hands and leverage.
If we don't get this, we will blow-off top, and that could be a longer drawn out hangover.
