$BTC $BTCUSD #BTC
🅼🅴🅶🅰 Thread on several Models / indicators / On Chain Analysis
Part 4
Update at $btc=57k, May 2020
Taking support on NVT like previous cycles
RVT ratio
previous resistance as support, acting similarly as previous bull cycles
Bitcoin Mayer Multiple
still In Bull market territory
200 week moving average heatmap now in yellow
advanced in the cycle -similar to q2/q3 2017-but probably not a top yet
Puell multiple
After the higher low, now in a consolidation between 2 & 3 like previous cycles -similar to q2/q3 2017-
S2F
no need for explanation
Pi cycle top indicator gave a pretty good signal at 60k+
This one would be the most bearish signal as of yet
Bitcoin log growth curves
Similar as previously, seems advanced in the cycle, but doesnt look as a top -probably like q2/q3 2017-
MVRV Z-Score made a Parabolic advance starting like previous bull markets
now doing a consolidation between 2 & 6 similar to q2/q3 2017
1Y+ HODL wave
signs of distributions like previous bull markets ?
RHOL ratio
consolidation around 10k like previous cycles
Relative Unrealized profit/loss
consolidating in the greed zone -like q2/q3 2017- but didnt touched yet the euphoria area
Miner capitulation, similar to previous cycle
Lol it actually looks so similar, with the halving kicking the hyperspeed
Bitcoin long term power law
on the last part of the bull cycle and approaching resistance soon
BEAM indicator
mid cycle, similar to q2/q3 2017
mayer multiple bands
consolidating between bullish and bullish extension
Based from their lows, this cycle seems on track compared to 2 previous ones - and also ~~like q2/q3 2017
$btc reserve on exchange continueing to be depleted rapidly and at the same speed
NVM hitting highs never seen before
MPI indicating that miners are really quiet since March 1st
Conclusion:
Some over heating signs start to appear, but overall it seems we are at the equivalent of q2/q3 2017, and that there is still 3-6 months of bull market and at least a last leg up imo
SOURCES:
stats.buybitcoinworldwide.com
charts.woobull.com
lookintobitcoin.com/charts/
Previous thread
Part 1
$btc= 5k, March 17th 2020, post corona drop
Previous Thread
Part 2
Update at $btc=9300, July 2020
Previous thread
Part 3
Update at $btc=18k, Dec 2020
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