Thread by @willposk

The whole #cryptocurrecy market depends on the performance of #Bitcoin.

BUT there is a lot of noise out there on #cryptotwitter.
Thats why i regularly collate the best indicators & charts out there to give you my take.

Enjoy it? retweet + tag a friend 🧵👇

Thanks 🙏

1/ GOLDEN/DEATH CROSS

Anything less than 1HR on the #bitcoin chart is just noise.

So lets zoom out:

-1HR chart: finally formed a golden cross on the 1HR
-4HR chart: we formed a death cross on 19th Nov but momentum looks like it might be finally swinging positive

Bullish

2/ DAILY & WEEKLY CHART

-1 WEEK: chart looks like we held the 50 DAY SMA, with a green candle close 🚀
-1 DAY: chart looks like we formed another falling wedge. Huge potential for us to bounce up again 🚀

Very bullish!

3/ FIB x LOG CHART

I am even more bullish when also factoring in @TechDev_52 great analysis below

4/ RSI/MOMENTUM

The Relative Strength (RSI) measures how much #bitcoin is overbought/oversold.

Momentum shows price over time & how strong that movement is.

Great chart from @Parabolic_Matt showing similar bullish patterns forming.

Bullish!

tinyurl.com/yc4v9x64

4/ MAYER MULTIPLE

We have risen above 1 again (after dipping below over the last week or so). This means we have shifted from a buy single to a hold single. Bullish

5/ Net Unrealised Profit & Loss (NUPL)

Great analysis from @TheRealPlanC via @glassnode .

Showing how we have reached the same level of support we did prior to previous price run ups.

6/ BUY & SELL ORDERS

There is a thick wave of buy orders set from around 48k to low 40k. This mean is there is a lot of support if we do wick a little a lower. There are also relatively fewer sell orders above us.

FYI i have buy orders going down to 43k just in case

Bullish

7/ SHORTS

Short positions on both #bitcoin & #altcoins have almost fully dissipated.

Bullish.

8/ SMART MONEY

Data from #Coinbase indicates that institutional buyers still outpace retail in 2021. So while retail volume is down, smart money has still been buying.

I see you @saylor 😉

Very bullish.

9/ COMING OFF EXCHANGES

We continue to see more #bitcoin coming off exchanges. With limited supply, it will take a relatively smaller number of buyers to push up prices higher, more quickly.

Simply less supple, requires less demand to increase price.

Bullish.

9/ CONCLUSION
-Hourly, daily & weekly charts looking bullish.
-All On Chain data looking bullish.
-Institutions are buying + there is increasingly less supply....this eventually will move price up.

-IF prices do rise, retail will likely FOMO back in & drive us even higher.

10/ THANKYOU

Takes me a long time to gather all this & write.
So please consider supporting this effort by:

-Retweeting & tagging a friend
-Following the account and clicking the notifications bell (so you never miss a thread!)

For some reason link did post to tweet, but orginal post from @TechDev_52 here: