Get started

Onchaintechnischeanalys

Onchain: Miners,banks and whales did not support the bull market A look at various Onchain metrics shows that miners, banks, and whales do not support the increase in the price of Bitcoin. Banks continued to reduce their Bitcoin reserves and the miners sold their bitcoins. Bitcoin Exchange Wall Ratio has also shown the increase in the entry of Bitcoin into the exchanges by whales. On the other hand, With the reduction of network difficulty and mining cost, we saw an increase in Bitcoin sales by miners. These show the market still does not have enough support for the price increase at the moment
by cryptoonchain
1
Where is the bottom of the market?In this post, I want to examine the market bottom area based on technical indicators and onchain metrics. Technical indicators: 1- RSI: In the last two cycles, the RSI value in the market bottoms has been between 43.6 and 44.8 in the monthly timeframe. RSI Value is 46.94 now. this is not far from the previous two values, but they were slightly less than this value. If we find the same value (46.9) in the previous two cycles on the chart, Bitcoin has dropped in price by 18% to 30% at the bottom of the market. If we consider 18% the market bottom will be about $ 24,300. 2- Pi cycle Bottom: The P-Cycle Oscillator is an efficient way to determine the top and bottom of the market. I used the bottom Pi cycle here. As you can see, this oscillator has performed well in previous cycles. Although the price is above the last trendline, it does not signal a market bottom. based on this oscillator, it seems that the downtrend continues. 3- 200 weeks moving average: The 200-week moving average has always been good support for Bitcoin in previous cycles and indicates the market bottom (If we do not consider candlewick). Although Bitcoin is close to this moving average, it has not yet crossed it. The value of this moving average is currently $ 22,100. 4- 300 weeks moving average: Although the 200-week moving average has shown good support for the bitcoin price, in the last cycle, candlewick fell to the 300-week moving average. This moving average value is currently around $ 16,600 The bottom of the market based on onchain Metrics: 1- Realized Price: One of the most important metrics for determining the bottom price of bitcoin is the realized price. In the previous bottoms, Bitcoin has fallen below this price. Bitcoin has dropped in the historical chart to the 730-day moving average of this metric. the realized price is 23760$ now and its 730d MA is 16300$. 2-CVDD (Cumulative Value Days Destroyed) has historically picked the bottom of the market. When coins pass from an old investor to a new investor, the transaction carries a USD value and also destroys an amount of HODL time by the previous holder. CVDD is the cumulative sum of this value-time destruction as a ratio to the age of the market and divided by 6 million as a calibration factor. CVDD value is 15240$ now
by cryptoonchain
5
Onchain V/T Ratio: Bitcoin is still overvalued V/T ratio is a new Onchain metric that I published recently in Tradingview. To check this Onchain Metric Please check the link below: this indicator is based on THE TOTAL VOLUME OF BITCOIN TRANSFERRED ONCHAIN IN USD and THE TOTAL AMOUNT OF TRANSACTIONS. I have explained the phases of the market based on this metric in the link above. When it is high, it means that the ratio of trading volume to USD per transaction is high, and vice versa. It is a good Metric to determine the Overvalue and undervalue read of BTC Based on this metric, It seems Bitcoin is still overvalued.
BITSTAMP:BTCUSD
by cryptoonchain
The summary of Onchain dataThe chart shows the summary of Onchain data: Based on MPI and Miner Outflow, miners are still in the selling position Based on Exchange Whale Ratio, The top 10 inflows to the total inflows are in a high position. Exchange Reserve has increased slightly Funding Rate indicates that we are in the local high position BTC 1Y CDD increased and shows that some holders have been holding for more than a year, moving their bitcoins Adjusted SOPR has a general downward trend Taker Buy Sell Ratio and Composite Man show the dominance and power of sellers in the market. In short, these cases indicate the possibility of a further decline in the price of coins. We are probably in a local high
by cryptoonchain
1
Divergence between price and Taker Buy Sell RatioIn recent days, we are witnessing an increase in Open Interest (one of the Onchain indicators). Open Interest is defined as the number of open positions (including both long and short positions) currently on a derivative exchange's trading pairs. As Open Interest (OI) increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. At the same time, At the same time, after an increase (which led to the current local top), a downward trend began Taker Buy Sell Ratio" (another Onchain indicator). (The ratio of buy volume divided by sell volume of takers in perpetual swap trades.) "Taker Buy Sell Ratio" indicates a divergence between the price and its 30-day moving average. Despite the price increase in recent days, the Taker Buy Sell Ratio is declining. This divergence could be a signal that prices may fall in the coming days
BITSTAMP:BTCUSD
by cryptoonchain
Divergence between price and Taker Buy Sell RatioIn recent days, we are witnessing an increase in Open Interest (one of the Onchain indicators). Open Interest is defined as the number of open positions (including both long and short positions) currently on a derivative exchange's trading pairs. As Open Interest (OI) increases, it indicates more liquidity, volatility, and attention are coming into the derivative market. At the same time, At the same time, after an increase (which led to the current local top), a downward trend began Taker Buy Sell Ratio" (another Onchain indicator). (The ratio of buy volume divided by sell volume of takers in perpetual swap trades.) "Taker Buy Sell Ratio" indicates a divergence between the price and its 30-day moving average. Despite the price increase in recent days, the Taker Buy Sell Ratio is declining. This divergence could be a signal that prices may fall in the coming days
by cryptoonchain
10
the percent of circulating supply that has not moved 1 yearThis chart shows the percent of circulating supply that has not moved in at least 1 year. This data shows what percentage of long-term holders have kept their bitcoins. This index has a negative correlation with price. When prices fall, holders are reluctant to sell and the index starts to rise. Once the price has risen enough, some of these holders will start selling their bitcoins, which causes supply to increase and prices to start falling. The linear correlation in the correlation oscillator indicates the negative correlation with R = - 0.9. For a better understanding, a bitcoin chart is drawn next to it and the peak and trough points are marked.
BEducation
by cryptoonchain