Every market watching what The Fed will do.
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Monitoring the Crypto Bubble
- Thread starter Bullion Baron
- Start date
Every market watching what The Fed will do.
Me, bored with watching what The Fed will do:
IPDA
Active Member
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pmbug
Well-Known Member
I'm pretty confident that the near term price action is temporary and the long term is still quite bullish. Mt. Gox distribution selling pressure will abate soon enough and there are just too many doors opening right now with American ETFs (expansion of adoption for the BTC ETFs and the ETH ETFs yet to start trading) and global markets (London greenlighting BTC ETPs, more nations establishing regulatory frameworks and opening up trading doors). Last I heard, ETF inflows are already buying (on a daily basis), more BTC than miners are generating. I don't know how large the sea of weak hands are, but at the current market rate, it's going to dry up and lead to a supply shock at some point in the near future.
MVRV Z-score indicates that the current price of BTC is undervalued when compared to its "fair" value.
https://www.lookintobitcoin.com/charts/mvrv-zscore/
https://www.lookintobitcoin.com/charts/mvrv-zscore/
The value of BTC entering the market from miners when compared to historical norms:
https://www.lookintobitcoin.com/charts/puell-multiple/
https://www.lookintobitcoin.com/charts/puell-multiple/
Realized value also indicates the market is not running at extremes:
https://www.lookintobitcoin.com/charts/rhodl-ratio/
https://www.lookintobitcoin.com/charts/rhodl-ratio/
Reserve Risk indicates that at the current price there is an attractive risk/reward ratio:
https://www.lookintobitcoin.com/charts/reserve-risk/
https://www.lookintobitcoin.com/charts/reserve-risk/
And lastly, whales and sharks have been accumulating assets:
https://www.tradingview.com/news/ne...of-crypto-s-top-leading-indicators-santiment/
https://www.tradingview.com/news/ne...of-crypto-s-top-leading-indicators-santiment/
Looking at those altogether, my degree of confidence that the price has not finished its run is much higher than the price having peaked.
IPDA
Active Member
Potential session high on silver ahead of asian session.
pow pow
Plan B has updated his Models.
Thanks @markcoinoz, I'm hoping I'm still alive to see BTC reach USD 1 million, even if by then I'm not likely to own any.
IPDA
Active Member
It looks more like a retail double top, engineered liquidity (I.e., buyside liquidity), for smart people to use as counter liquidity IMO…And lastly, whales and sharks have been accumulating assets:
https://www.tradingview.com/news/ne...of-crypto-s-top-leading-indicators-santiment/
Yes! I can relate to that Shiney.
My overall goal has never been about myself or an arbitary number.
It's really about the journey.
As I turn 67 next month, the most important thing for me is to be able to secure it for my family so that a legacy is left.
That will become more difficult to keep it fully secure in the upcoming cycles.
Meanwhile, make the most of it while the sun shines
I'm not smart so I'll stick with the narrative I like.
Edit to add: when taken in the context of the other indicators the top doesn't appear to have been breached as of yet.
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IPDA
Active Member
Depends on the indicators you use, all the ones I use would suggest it’s a top. All I try to do is see where large speculators are positioned and what real order flow is suggesting.