1 // #Bitcoin Bottom Signals 🚀🔥
In just a few months, #Bitcoin traded $70000 all the way down to $20000. A historical drawdawn, the right time to look at potential bottom signals
I'll move over several datapoints. The more you'll see, the more bottom-ish. Let's go 👇
1 // Exchange Reserve. Reserves are trending down 🟢
Less #Bitcoin on exchanges = Less potential selling pressure
Chart:
cryptoquant.com/asset/btc/char…
2 // Drawndown from ATH 🟠
Previous Bear Markets: at least 80%
Current Bear Market: 70%
Chart:
studio.glassnode.com/metrics?a=BTC&…
3 // Net Unrealized Loss (NUL) 🟢
Unrealized Losses equal as COVID-19 Crash. Not as high as previous bear markets 😉
cryptoquant.com/asset/btc/char…
4 // Negative Funding Rates 🟢
Bitcoin likes to bottom on negative funding rates
Chart:
cryptoquant.com/asset/btc/char…
5 // Net Unrealized Profit/Loss (NUPL) 🟢
Blue color (🔵) = Capitulation
Chart:
cryptoquant.com/asset/btc/char…
6 // Bitcoin: UTXOs in Loss 🟢
Above previous bear market levels
Chart:
cryptoquant.com/asset/btc/char…
7 // #Bitcoin MVRV Ratio is below 1 🟢
MVRV Ratio = Market Cap / Realized Cap
By comparing two valuation methods, the MVRV ratio can tell us to get a sense of whether the price is fair or not, which means it is useful to get market tops and bottoms.
8 // Pullback from 3D 200MA 🟢
#Bitcoin closed below the 3D 200MA. The pullbacks
from crossing till bottom were:
Dec '14: 47%
Oct '18: 50%
Mar '20: 32%
Currently value = 50%😉
9 // 200 Weekly Moving Average 🟢
Historically, #Bitcoin hasn't spent much time below 200 WMA. Currently trading below it😉
10 // Mayer Multiple below 0.5
Chart:
charts.woobull.com/bitcoin-mayer-…
11 // Fee to Reward Ratio below 3%
Chart:
cryptoquant.com/prochart/ipcJS…
12 // Premium on Quaterly Futures 🟢
Premium is around 0%. This is rare!
13 // 'BiTcOiN iS DeAtH' news articles 🟢
Some of my local country 👇
14 // Puel multiple below 0.5
lookintobitcoin.com/charts/puell-m…
X / / And plenty more, but I had the feeling I should release this thread soon. It's not complete, but don't want to hold this information by meself. Make sure to use it!
15 // Bitcoin: Exchange Inflow (Mean, MA7)
1. $BTC drops hard over -30%
2. All Exchange Inflow Mean (MA7) spikes over 2.5 BTC
3. The indicator cools down
4. ALL-IN $BTC
cryptoquant.com/asset/btc/char…
16 // Thick white support clusters below price. #FireCharts could help
17 // DonAlt buying 🫢
18 // Time duration from ATH ⏰
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