🤖 #BTCLIVE - 15.08 - #IDEA 🤖
🤖 #BTCLIVE - 15.08 - #IDEA 🤖
Snapshot:
Short-Term
30:70- Bullish:Bearish
Long-Term
50:50 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Alot of bearish sentiment, mainly short term would suggest a move down to 23.6k especially with the 3rd rejection from
25K andsell orders coming in - there could be a strong rally at this position to fend off breaking down on the ascending wedge which would likely drive price for another test of 25K this would be incredibly bullish and somewhat of a make or break push. A break and hold above 25K puts 
27K and 30k as realistic targets.
Bearish Scenario:
Short term movement down to 23.6k is likely for the local support although there could be a lot of defense at this position a breakdown and confirmed retest can see price sing quite quickly to 22.6k where the next strongest zone of support lies, max pain in the move can still push us down to 20k region which is where the bottom of this long term channel/range lies.
Bullish Factors:
+ Weekly Pivot already filled
+ 200EMA is supporting
+20 & 50 DEMA doming to support at the key trendline support
+ Transfer Volume turned positive
+ Active Addresses turned positive
Bearish Factors:
- Bearish Divergence on the 5min
- Bearish divergence on the 4hr
- Bearish Divergence on the 1hr
- Restesting resistance
- Strong Sell Orders
- Broken through 20 and 50 EMA
- Hard rejection from 25k for 3rd time
- Exchange Netflow Total turned negative
- Liquidation turned negative
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ 💥Revolut gets approval to offer #Bitcoin and crypto in the European Economic Area.
+ Judge grants Ripple’s request to review videos of SEC officials [forkast.news] (cryptopanic.com/news/16053867/Judge-grants-Ripples-request-to-review-videos-of-SEC-officials?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram)
+#Crypto exchange Gate.io has been granted a virtual asset custodial services license in Hong Kong.
+ Europe’s largest independent tyre re-treader, Vaculug, will accept #Bitcoin for payment!
Bear:
-
ETH: The “Merge” Protocol Upgrade Will Not Lower Ethereum’s Gas Fees
- Hackers printed 1.2 billion
AUSD on the Acala Network through an exploit.
- Brazilian #crypto lending platform BlueBenx halts withdrawals following a $32 million hack.
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 decreased by 31.00% compared to yesterday.
+ Active Addresses - The total number of active wallets used to send and receive coins has decreased by 13 .00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 26.00% 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 dominent 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 - 42921463.65 of short positions were liquidated in the last 24 hours.
Snapshot:
Short-Term
30:70- Bullish:Bearish
Long-Term
50:50 - Bullish:Bearish
Technical Analysis:
Bullish Scenario:
Alot of bearish sentiment, mainly short term would suggest a move down to 23.6k especially with the 3rd rejection from
25K andsell orders coming in - there could be a strong rally at this position to fend off breaking down on the ascending wedge which would likely drive price for another test of 25K this would be incredibly bullish and somewhat of a make or break push. A break and hold above 25K puts 27K and 30k as realistic targets. Bearish Scenario:
Short term movement down to 23.6k is likely for the local support although there could be a lot of defense at this position a breakdown and confirmed retest can see price sing quite quickly to 22.6k where the next strongest zone of support lies, max pain in the move can still push us down to 20k region which is where the bottom of this long term channel/range lies.
Bullish Factors:
+ Weekly Pivot already filled
+ 200EMA is supporting
+20 & 50 DEMA doming to support at the key trendline support
+ Transfer Volume turned positive
+ Active Addresses turned positive
Bearish Factors:
- Bearish Divergence on the 5min
- Bearish divergence on the 4hr
- Bearish Divergence on the 1hr
- Restesting resistance
- Strong Sell Orders
- Broken through 20 and 50 EMA
- Hard rejection from 25k for 3rd time
- Exchange Netflow Total turned negative
- Liquidation turned negative
Key News:
Bull:
+ ETH Merge causing bullish sentiment market wide
+ 💥Revolut gets approval to offer #Bitcoin and crypto in the European Economic Area.
+ Judge grants Ripple’s request to review videos of SEC officials [forkast.news] (cryptopanic.com/news/16053867/Judge-grants-Ripples-request-to-review-videos-of-SEC-officials?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram)
+#Crypto exchange Gate.io has been granted a virtual asset custodial services license in Hong Kong.
+ Europe’s largest independent tyre re-treader, Vaculug, will accept #Bitcoin for payment!
Bear:
-
ETH: The “Merge” Protocol Upgrade Will Not Lower Ethereum’s Gas Fees- Hackers printed 1.2 billion
AUSD on the Acala Network through an exploit.- Brazilian #crypto lending platform BlueBenx halts withdrawals following a $32 million hack.
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 decreased by 31.00% compared to yesterday.
+ Active Addresses - The total number of active wallets used to send and receive coins has decreased by 13 .00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 26.00% 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 dominent 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 - 42921463.65 of short positions were liquidated in the last 24 hours.
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