Bitcoin Bearish Signals Go Off Despite Recovery Above $44k, Dead Cat’s Bounce?
Bitcoin observes a few different bearish signals going off despite strong recovery above $44k, could it be a dead cat’s bounce? On-Chain Data Shows Bitcoin Miners Have Started Selling, Funding Rates Have Turned Negative As explained by a CryptoQuant post, a bunch of bearish Bitcoin signals have gone off despite some fresh movement up. First, the miners reserve has started to decline. This indicator shows the total number of coins that miners are holding in their wallets. A downtrend in the metric’s value suggests miners have started sending their Bitcoin to exchanges for....
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Here’s what futures market data could suggest about whether this latest Bitcoin recovery will be a dead-cat bounce or not. Bitcoin Futures Market Shows No Signs Of Overheating So Far As explained by an analyst in a CryptoQuant Quicktake post, the BTC funding rate has stabilized around a relatively low value recently. The “funding rate” […]
Bitcoin has jumped more than 10% in the last 24 hours as the coin’s price reaches $47.5k. Past pattern may shed light on whether this is just a dead cat bounce or a lead up to a real move up. Bitcoin Netflows Of Past Dead Cat Bounces Compared As pointed out by a CryptoQuant post, a look at the BTC netflows of the past cycles may reveal the pattern that dead cat bounces have followed historically. The Bitcoin exchange “netflow” is an indicator that’s defined as the difference between the inflow and the outflow. When exchanges observe higher inflows compared to the....
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....
DeFi tokens like Chainlink and Yearn.Finance dominated the crypto market all throughout the summer months. But a recent shift in sentiment has prompted investors to derisk and these same coins have been crashing deeply. And while there’s no certainty that a reversal is near, a buy setup has triggered on these two once top-performing tokens that could at least provide a dead cat bounce it the short term. Chainlink Readies Rebound Following 50% Fall From […]
In last week’s post we concluded with the following statement: As you can see last Sunday we were very Bearish at a time when price had rebounded from around US$320 to US$330. In hindsight, the bounce had a little more legs in it than initially expected, but as the primary view explains, the overall picture will remain Bearish according to the charts as long as we stay below US$400 and most like US$420. We have now turned Bearish across all time frames. Until proven otherwise any bounce is expected to just be new lower high until we can get back above US$420. What we thought was a nice....