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20 Oct, 10 tweets, 5 min read
1/ Quick roundup of what I’m seeing as #Bitcoin consolidates below its last major resistance 👇
2/ Funding remains amazingly neutral - negative.

🔥 Bullish $BTC
3/ #BTC’s correlation to traditional markets appears to be unwinding.

If this persists in the coming weeks, it’ll be the biggest story in crypto.

🔥 Bullish $BTC

4/ Commitment of traders showing institutional traders are overwhelmingly long this week.

🔥 Bullish $BTC

h/t @filbfilb
5/ Skies are mostly clear above $12K across exchange orderbooks.

Chart below is Binance, but pretty much everything looks like this right now.

🔥 Bullish $BTC

Chart from @tradinglite
6/ Whale exchange inflows are stable and not growing, a good sign.

🔥 Bullish $BTC

Chart from @cryptoquant_com
7/ Balance on exchanges continues to drop.

No sell side liquidity crisis yet, but a sustained break above $12k could change things quickly.

🔥 Bullish $BTC

Data from @glassnode
8/ Daily active addresses to price divergence is surprisingly weak.

This has happened before under bullish conditions, so I wouldn’t be too stressed about it.

🌒 Neutral - Bearish $BTC

Data from @santiment
9/ Meanwhile ETH/BTC is tanking, and alt holders are getting rekt.
10/ Too many people were unprepared for this.

I’m no maximalist, got plenty of love for crypto all around, but you gotta respect the king. 👑

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More from @ColeGarnerBTC

Cole Garner Profile picture
5 Oct
1/ New #bitcoin addresses were absolutely off the charts last week.

The backstory is bullish and intriguing — a unique view on a new bull market catalyst.

I’m about to break this down 👇

#BTC
2/ First: volume precedes price.

And #bitcoin active address counts are an OG on-chain leading indicator of volume.

3/ We typically see 5-10k new #bitcoin addresses / day.

That figure grew it its highest level in over two years last week, peaking above 22k.

data // @glassnode // indispensable
Read 16 tweets
Cole Garner Profile picture
8 Jul
Chainlink Weapons Arsenal /a thread

1/ Chainlink broke its all time highs yesterday. And it just keeps going higher.

I think we're seeing a full blown parabolic advance.

Image
2/ This shouldn't come as a big surprise if you've followed me for awhile.

I said I was expecting this two months ago.

3/ marines have plenty to celebrate. 🍻

Some will hodl for the longterm — a fine strategy early in a bull market.

But parabolas almost always end in a deep retrace — so let’s talk about how I plan on strategically selling.

(We can always rebuy lower, at a discount). Image
Read 18 tweets
Cole Garner Profile picture
24 Jun
1/ I am massively bullish on #Bitcoin, but I think the next big move is likely down.

@glassnode just reported the largest $BTC transfer from miners to exchanges in over a year.
2/ And CME commitment of traders shows institutions are massively net short $BTC, and have been for many weeks.

They've only been this net short once before: the last time $BTC hovered around this same price.
3/ Bitfinex whale's buywall is eroding, and hasn't been replenished yet.

And those $BTC transfers from miners to exchanges...they went to Bitfinex.

(platform is @tradinglite)
Read 13 tweets
Cole Garner Profile picture
22 Apr
The Big Picture /a thread

Last year Ray Dalio (most successful hedge fund manager alive) said we'd reached the end of a debt supercycle.

Supercycles last 50-100 years.

The last one ended in 1929.

amazon.com/Big-Debt-Crise…
2/ That was the macro context going in to 2020.

What does Dalio think now?

forbes.com/sites/alexandr…
3/ The data does seem to paint a specific picture.

cnbc.com/2020/03/30/cor…
Read 25 tweets
Cole Garner Profile picture
20 Mar
#FF market meltdown shitshow edition

Accounts who've been on fire & super insightful through these endless weeks of drama & carnage.

Thread 👇
1/ Alex Kruger @krugermacro

Consistently on-point coverage & analysis across asset classes.

Gave clear warning that $BTC could break down at any moment, 3 days in advance.

2/ Raoul Pal @RaoulGMI

Global macro insight & wisdom from someone whose been through panics before.

He dropped major free alpha yesterday that I'll confirm from experience -- the FX markets are THE place to be an active trader right now.

Read 12 tweets
Cole Garner Profile picture
2 Jan
Logarithmic Eclipse /a thread

1/ Get this: BTC’s curved log price growth fully straightens out when price *and* time are charted in log scale.

The implications are fascinating — and can be used as an edge.

I’ll break it all down, and show you a new indicator I'm loving.
2/ First: logarithmic charts show you log price in linear time. (They are 'price-log').

But what if you charted log price in log time? ('log-log')

Tradingview doesn’t offer that option — you need a specialized platform.
3/ Here's what you'd see:

$BTC price action on a log-log chart is *so linear* that you can draw a flat trendline through the top edge of all three bull market tops.

And another trendline through all three accumulation zone bottoms.
Read 30 tweets

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