These Two On-Chain Signals Precede Bitcoin Falls, Suggests Analyst
An analyst has suggested that two on-chain signals may be used to predict Bitcoin falls as they seem to have historically preceded drops in the crypto’s price. Bitcoin Selling Of 7yrs-10yrs Old Coins Spiked Up Recently As pointed out by an analyst in a CryptoQuant post, BTC dumping of coins aged between 7 years to 10 years and ETH dominance rising up can be two signs to look for before falls in the coin’s value. The first indicator of relevance here is the “Spent Output Age Bands,” which checks for on-chain movement of coins and tells us which age groups were....
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On-chain data shows selling from Bitcoin long-term holders may have been behind the recent dip in the crypto’s price below $19k. Bitcoin Exchange Inflow CDD Has Recently Observed A Sharp Increase As pointed out by an analyst in a CryptoQuant post, there has been some possible selling pressure coming from the long-term holders recently. The relevant indicator here is the Bitcoin “Coin Days Destroyed” (CDD). A coin day is defined as the amount accumulated by exactly 1 BTC when sitting idle for 1 full day. The total number of coin days in the market, therefore, represent the....
The Merge hasn’t pushed crypto prices as expected. Instead, the third week of September has kicked off with more reds than greens. The entire market has plunged, and even the overall market cap dropped. Currently, many crypto assets are losing every hour. Many crypto exchanges are forcefully liquidating leveraged positions. According to Coinglass, the total amount liquidated already has reached $431.51 million, with 130,087 traders affected. Related Reading: These Two On-Chain Signals Precede Bitcoin Falls, Suggests Analyst Bitcoin Price Plunged Currently, the Bitcoin price stands....
Crypto analyst Jesse Olson has highlighted the second consecutive Heikin Ashi signal on the Bitcoin (BTC) weekly chart. This comes despite Bitcoin’s recent rise to as high as $58,000, which suggests that a bullish reversal might be on the horizon. What The Heikin Ashi Signal Means For Bitcoin While highlighting the second consecutive Heikin Ashi on Bitcoin‘s weekly chart, Olson also noted that there was no wick to the upside, which suggests that the downside trend is likely to continue. The crypto analyst had also previously explained how the absence of a wick to the upside signals a....
There is still very little to deduce from the bitcoin price chart. Whether looked at in the larger or smaller timeframes, there are no definite signals to trade. The 15-minute chart moving averages are in disarray and the technical indicators hardly provide profitable signals. For example, the stochastics (second from top) signal a large number of conflicting divergence signals – but how to discern which one is a reliable entry signal? Some precede medium range moves, others – accompanied by MA cross-overs – result in tiny moves. The overall impression is that the market sentiment is in....
The price of Bitcoin has been in a slight consolidation over the past week, with the premier cryptocurrency struggling to cross the $100,000 mark on Christmas day. However, investors are hoping that the BTC price will gift them one final rally before the close of 2024, and the latest on-chain signals suggest so. Can Increased Buying Pressure Push Bitcoin Price Back Toward $100,000? In a December 28th post on the X platform, popular crypto analyst Ali Martinez shared an exciting on-chain observation that could influence the Bitcoin price action before the end of 2024. This relevant on-chain....