Bitcoin indicator that nailed all bottoms predicts $15.6K BTC price floor
The MVRV-Z Score is a tried and tested bottom indicator, but it is not back at base yet, one analyst warns. Bitcoin (BTC) needs to go lower before putting in a macro bottom, one of the market’s most accurate indicators shows.Data from sources including on-chain analytics firm Glassnode shows Bitcoin’s MVRV-Z Score is almost — but not quite — signaling a price reversal.MVRV-Z Score inches towards macro bottomAmid ongoing debate whether if, or when, BTC/USD will go beyond its current macro lows of $17,600, new figures suggest that the market easily has further to fall.As noted by Filbfilb,....
Related News
It may be a case of "so near yet so far" when it comes to June's multi-year low being the next BTC price floor, warns Willy Woo. Bitcoin's (BTC) market behavior is not yet “synonymous” with previous bear market bottoms, one of the leading crypto analysts argues.In a Twitter thread on Sept. 14, statistician Willy Woo, creator of data resource Woobull, offered three examples of why BTC/USD should still have further to fall.Despite many calling a new macro price bottom during June’s trip to $17,600, not everyone is confident that Bitcoin will avoid a retest.For Woo, there is still reason to....
This week, Bitcoin's 150-day EMA is set to close below its 471-day EMA for only the third time in history. Bitcoin (BTC) could undergo a massive price recovery in the coming months, based on an indicator that marked the 2015 and 2018 bear market bottoms.What's the Bitcoin Pi Cycle bottom indicator? Dubbed "Pi Cycle bottom," the indicator comprises a 471-day simple moving average (SMA) and a 150-period exponential moving average (EMA). Furthermore, the 471-day SMA is multiplied by 0.745; the outcome is pitted against the 150-day EMA to predict the underlying market's bottom.Notably, each....
A quant has explained how the Bitcoin funding rate (72 hour) may be able to correctly signal tops and bottoms in the price of the crypto. Bitcoin Funding Rate May Be Able To Indicate Tops And Bottoms In The Market As explained by an analyst in a CryptoQuant post, the 72-hour version of the funding rate looks to have been effective at pointing out tops and bottoms in the BTC market. The “funding rate” is the periodic payment that Bitcoin futures traders (either long or short) have to make between each other. When the value of this metric is negative, it means shorts are paying a....
In this episode of NewsBTC’s daily technical analysis videos, we compare past Bitcoin bottoms and tops using the Pi Cycle Bottom and Pi Cycle Top indicator. We also dive into recent comments from John Bollinger, creator of the Bollinger Bands. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 9, 2022 This video provides a detailed look at Bitcoin market cycles using the Pi Cycle Bottom indicator and other tools. A recent exchange between Tony “The Bull” and the creator of the Bollinger Bands is also a topic of discussion and corresponding....
Data shows the Bitcoin supply in profit has continued its decline, but the metric has still not reached levels as low as the previous bear market bottoms. Around 50% Of The Bitcoin Supply Is In Profit At The Moment According to the latest weekly report from Glassnode, the current profitability levels in the BTC market are still above the 40%-42% values that were observed during historical bottoms. The “percent supply in profit” is an indicator that measures the total percentage of the Bitcoin supply that’s currently holding some unrealized profit. The metric works by....