🤖 #BTCLIVE - 21.08 - #IDEA 🤖

🤖 #BTCLIVE - 21.08 - #IDEA 🤖

Snapshot:

Short-Term
60:40- Bullish:Bearish

Long-Term
80:20 - Bullish:Bearish

Technical Analysis:

Bullish Scenario:
Breaking up out of this ascending wedge is key - a good confirmation for this would be breaking above 21.7k with volume or a confirmed retest. The next target puts 22.4k on the board. This would be quite a bullish sentiment overall - the key focus here is to stay within the macro channel as breaking down will cause a big drop. Ultimately we will likely see alot of consolidation and ranging around the mid channel here at a round 22.8k region.

Bearish Scenario:
Breaking down on the ascending wedge will be quite a bearish sentiment - at a about 21.2k this will be breaking down on the ascendign wedge and back out of the macro channel. Likely retest of 20.7k and breaking that will take us to 20k. I am slightly more in favour of this scenario


Bullish Factors:
+ Break back into the macro channel above 21.1k
+ Strong Double Bottom
+ Higher Highs and Lows
+ Flipped 20 and 50 EMA
+ Broken Local resistance at 21.4k
+ Very Bullish Weekly Pivot
+ Active Addresses turned positive
+ Transactions turned bullish

Bearish Factors:
- Forming Ascending Wedge Short-Term
- Bearish Daily POC forming
- RSI is nearly at overbought
- Bearish Candle
- Transfer Volume turned negative


Key News:
Bull:
+ A new UK Bill can bring crypto into the scope of local payment regulation

Bear:
- Bored Apes Approaching Mass Liquidation On BendDAO, Can This Crash Entire NFT Market?

Exchange
+ Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure.
- Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.

Miners
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
Moderately selling
Last Value:
-0.76351231
24H%:
-385%
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.5230772
24H%:
-19%

On-Chain
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
- Net Unrealized Profit and Loss (NUPL) -Investors are in a Capitulation phase where they are currently facing unrealized losses. It indicates the decreasing motive to realize loss which leads to a decrease in sell pressure.
- Transfer Volume - The total number of coins transferred has decreased by -73.00% compared to yesterday.
+ Active Addresses - The total number of active wallets used to send and receive coins has increased by 23.00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 14.00% compared to yesterday.

Sentiment
+ Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.

Derivatives
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
+ Taker Buy Sell Ratio - Selling sentiment is dominant in the derivatives market. More sell orders are filled by takers.
- Liquidation - 11133298.76 of long positions were liquidated in the last 24 hours.

/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend
Last Value:
8,545,444,735.4
24H%:
+2%
7D%:
-9%

Fear & Greed Index - Aug 21, 2022:

Today: 27 (Fear)
Yesterday: 29 (Fear)

Avg. 1W: 36 😣
Avg. 2W: 38 😣
Avg. 1M: 35 😣
Avg. 2M: 27 😱
Avg. 3M: 22 😱
Avg. 6M: 25 😱
Avg. 1Y: 35 😣

🔸 #Bitcoin
Price: $21,169
24h Low: $20,849
24h High: $21,354
MC Change: 4.1B (1.0%)
Dominance: 38.5%

24h: 1.5%
7d: -13.3%
14d: -8.9%
30d: -9.2%
60d: 2.6%
200d: -45.1%
1y: -54.7%

@FearGreedIndex
Beyond Technical AnalysisBitcoin (Cryptocurrency)Fundamental AnalysisNEWSonchaintechnicalTrend Analysis

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