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WE ARE NOT A FINANCIAL ADVISER🤚 ‼️ MUST #DYOR BEFORE YOU BUY 🙌 🚀HERE YOU WILL EARLY BSC/ERC TOKEN WITH GOOD POTENTIALS🚀 OWNER/Marketing => @cryptomancall Jp
Bitcoin has witnessed a typical bear market capitulation already.
🔸 For this illustration, Its realized profit/loss ratio hit record low levels.
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Coinbase makes it to the Fortune 500 list!
Congrats Coinbase!
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🔸Bitcoin Realized Price (essentially the average cost basis) is at $23,791.
🔸Historically, buying under the RP has been lucrative if you have a macro, long-term (multi-year) approach
If the rare opportunity of BTC going below the RP arises, I'd definitely take on this amazing opportunity.
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BTC is still indecisive
🔸 BTC trying its best to pump up to Daily 20 EMA to flip Resistance into Support.
🔸 However, previous Daily Dojis show significant market indecision (long wicks), and so far keep breaking down.
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Bitcoin Monthly RSI is approaching historical lows
Bounce or Breakdown? Watch closely how this level will react on the monthly closes.
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❗️Tether temporarily lost its peg to the U.S. dollar
Tether (USDT) fell to $0.97 cents in the Asian session, losing its peg to the dollar. USDT fell to $0.96 cents on the Coinbase exchange. Tether CEO Paolo Ardoino said the company has enough reserves to redeem assets at a 1:1 ratio to the U.S. dollar. "Over $300 million has been redeemed in the last 24 hours without a drop of sweat," he said.
🔍 More Crypto News
USDT DOMINANCE
🔸 USDT Dominance is in a similar setup as the 2021 correction.
🔸 Currently, it's retesting the black trendline while the RSI is showing a bearish divergence.
If the chart follows 2021, this is bullish for altcoins and bitcoin!👀
Source
Bitcoin miners are still net accumulating BTC inventory
🔸 As BTC price recovers, Bitcoin miners have not shown any trend of net distribution, in fact, the net accumulation trend which started in July 2021 continues
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Rich Dad Poor Dad Author Warns ‘Everything Bust’ Is Coming, Says Gold, Silver and Bitcoin Will Far Outperform US Dollar
🔸 Robert Kiyosaki believes the US may be spiraling toward another crash and a great depression.
Bitcoin may save the future economy
Source
🔸Bitcoin still has the higher high/higher low structure in play
We're still in an uptrend 👍
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DXY:
🔸DXY is near 20yrs high and at the resistance (104)
🔸RSI also shows overbought.
🔹FED FOMC Meeting on May 4.
🔹The chart indicates that we can expect a correction in DXY by next week.
🔹If it happens then we will see a bounce in US Market and Bitcoin as well
❗️Remember these are short term price factors which impact Bitcoin.
✅Dont forget Bitcoin's fundamentals
Breaking: Elon Musks buys twitter 👀
Results: Doge big pump
Education: 📚BTC Dominance Cycle
Now that BTC dominance is close to very critical support at 41.5%, we can anticipate the following scenarios:
This is what smart investors use on rotating their capital
On-chain update: Bitcoin Exchange Outflow
🔸 30k $BTC outflow from Coinbase Pro within 1hour. 👀
What would this activity tell us? (Lesser BTC on exchanges)
SOURCE
Bitcoin Price Temperature
🔸 BPT = 1.1
8🔴 Extremely overvalued
6🟡Overvalued
2🟢Fair value
0🔵Undervalued
🔸 BPT Falling below 1 has always indicated oversold levels while surpassing it after consolidating in the 0-0.5 area meant a trend reversal.
Currently watching BTC’s price closely 👀
SOURCE
Central African Republic unveils plans for 'Crypto Hub', includes construction of crypto islands and digital wallets.
This is just the beginning!
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Bitcoin in 15 min timeframe:
🔸Bitcoin bounced from the $28,600 support as expected
🔸BTC is testing resistance at $29,400
🔸We can also see a bullish falling wedge pattern in the 15 min time frame
🔸BTC has to close the hourly candle above $29,400 for continued bullish movement
❕Support at $28,600
Nasdaq & Dow Macro chart
🔸 The Nasdaq and Dow Jones have reached a 14-year supportive trendline. After touching it, it had a bullish reaction.
🔸 Nasdaq and Dow Jones weekly RSIs have entered the oversold zone.
A strong bounce here in the coming weeks would be good for Bitcoin!
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🔸 The S&P 500 is down 18.2% in the first 96 trading days of 2022
🔸 This is the worst start to a year since 1940.
Will the global stocks end the year with a green return? Remember that bitcoin is strongly correlated with this market.
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Luna Holdings Update as of May 15:
🔸Total addresses holding Luna has grown to 7,058 from 2,286 2 days ago (+4772 addresses/208%)
🔸The Top 100 holders account for 47.6% of the total supply
🔸One account holds 485M Luna (9.5% of supply)
Careful out there, trading Luna is Market Maker’s Game
Australia to launch first spot Bitcoin ETF on Thursday
BTC spot ETF rolls out!
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What will happen when NASDAQ bounces?
🔸 NDX has broken through historical resistance (this breakout was the 2021 Bull Run).
🔸 The throwback on this resistance has extremely high bounce probabilities.
BTC will surely follow! 👀
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BREAKING: Russian President Vladmir Putin to undergo cancer surgery; transfer power to ex-FSB chief
🔸Putin will transfer control of Russia's government to Nikolai Patrushev, head of the Russian federal police's security council
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Fear and Greed Index Update
🔸 Bitcoin saw some sentiment relief as prices bounced off the trendline near $37k
🔸 The market is still fearful and sensitive to factors affecting its price.
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🔸 The last two major bear market capitulations BTC is moving to the exchanges.
🔸 Currently, BTC is being taken off of the exchanges.
On-chain is showing bullish in this condition!
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BTC Weekly Closed Below the Macro Horizontal Zone
🔸 BTC weekly price failed to open above this indicated crucial zone. This could signal for more lows.
🔸 Wick support is set at 36k if ever price plays a sharp drop. A bounce from this area could still be a positive scenario.
Bitcoin Short to Long-Term Realized Value
🔸 Ratio of the 24H realized HODL wave and the 6m-1y realized HODL wave
🔸 This serves as a measurement for comparing short-term and long term velocity for bear market detection.
🔸 We are in a mid-cycle accumulation because we never entered the bear market in the red zone.
We're still accumulating. Are you?
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Bitcoin Miners' Recent Activity
🔸In this illustration, it shows the first increase in bitcoin miners' outflows.
🔸They have now transferred even more to exchanges to sell more right at the recent peak
Miners transact on high volunes so we need to monitor their movements
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