A wild theory on what is happening on #btc#Bitcoin
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1 $BTC a record number of coins are coming off exchanges. As we can see form data by cryptoquant
2/ A record number of #StableCoin are coming onto exchanges as people wait on the sidelines to buy. Data via cryptoquant, shared by @TheRealPlanC
3/ But we keep getting rejected at the $50K mark. However does look like we are forming a golden cross on the 1HR chart. And momentum is (potentially) shifting on the 4HR too.
4/ Wild speculation.....perhaps Whales are suppressing price so they can accumulate at lower prices?
IF this is the case things could really go π when they let it go, due to pent up buying pressure and lack of coins available.
But many people this year will have got #REKT'd on projects like #dogecoin#shiba
Starting out in #crypto is hard.
Here is a simple thread top stop you getting wrecked π§΅π
RT if you like βΊοΈ
1/ GET RICH QUICK - PT1
You hear stories of people making millions overnight like @ProTheDoge , who bet everything on $DOGE. But 99% of the time its pure luck.
2/ GET RICH QUICK - PT2
New investors are seduced by the #moon potential of smaller projects & invest more than they can afford to lose.
Remember to always only invest what you can lose & take profits when you can!
My biggest gains this year where by getting in early on $matic #Polygon , $gala #GalaGames and $SOL #Solana
But overtime i alway try to put profits into #btc#Bitcoin
Here are some of the best tools i use to analyse Bitcoin price action. π§΅π
RT/Share if you found it useful
1/ CBBI INDEX
The CBBI index is awesome, it compiles some of the best leading indicators out there into one metric. Its almost always spot on too. If the score is over 85 sell, below 20 buy.
The best single indicators for me which is the Mayers multiple. It has been scarily accurate too overtime. It compares the current price against the 200 day moving average
Things may be looking up on #Bitcoin#btc
Here is a thread where my head is at.
Do your own research etc.
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1/ I was nervous about the #evergrande news the other day, but i think its super bullish that there wasn't a sell off. Perhaps it was already factored in. Nobody really knows, they're lying if they say do.
2/ I was nervous about a potential near term upwick in #bitcoins going onto exchanges but this has quickly trended down again. Looks like Whales where messing with us potentially. This is a bullish sign.
Starting out in #crypto is hard.
But here is a list of useful tools i use π§΅π
Pls comment/let me know what u think
1/ As i said before focusing on Tokeconmics is more important than price action. Especially important is comparing Market Caps. @MarketCapOf is simple and great tool that can help with that.