Bitcoin becomes bullish when this indicator hits critical levels, according to KOL William Clemente
Analyst William Clemente says that if an index hits critical levels, Bitcoin will rebound.
In Messages Clemente, the latest report from Blockware Intelligence, examines Bitcoin’s short-term Hodler cost base (STH).
The cost basis, based on the on-chain analysis, is the average price when a certain investor group enters the market. Bitcoin investors are considered ETH if their coin is less than 5 months old.
“Bitcoin is below the STH cost base, which is currently $ 53,000. No price increase until this level is reached again. I’m not a bear, I just have to be careful until the market changes me. Happy to get bullish with $ 53,000 restored. Bearish confirmation will be an unsuccessful retest of the lower limit of the band. ”
Source: Blockware Intelligence
Identifying the bullish catalyst for Bitcoin, Clemente says the number of BTC entering the wallets of companies with low sales history is increasing. This metric is very different from the May figure just before the big correction, he said.
“The supply of liquidity has recovered well in the last week, which shows that the supply is shifting to properties with low spending behavior (hodl> 75% of the coins bought). This is very different from what was observed in May, when the opposite effect was already there. ”
The analyst also said that BTC bulls can monitor the funding rate. This relationship on the exchanges can maintain a neutral or negative bias before BTC can start another bull run.
Source: Blockware Intelligence
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Bitcoin becomes bullish when this indicator hits critical levels, according to KOL William Clemente
Analyst William Clemente says that if an index hits critical levels, Bitcoin will rebound.
In Messages Clemente, the latest report from Blockware Intelligence, examines Bitcoin’s short-term Hodler cost base (STH).
The cost basis, based on the on-chain analysis, is the average price when a certain investor group enters the market. Bitcoin investors are considered ETH if their coin is less than 5 months old.
“Bitcoin is below the STH cost base, which is currently $ 53,000. No price increase until this level is reached again. I’m not a bear, I just have to be careful until the market changes me. Happy to get bullish with $ 53,000 restored. Bearish confirmation will be an unsuccessful retest of the lower limit of the band. ”
Source: Blockware Intelligence
Identifying the bullish catalyst for Bitcoin, Clemente says the number of BTC entering the wallets of companies with low sales history is increasing. This metric is very different from the May figure just before the big correction, he said.
“The supply of liquidity has recovered well in the last week, which shows that the supply is shifting to properties with low spending behavior (hodl> 75% of the coins bought). This is very different from what was observed in May, when the opposite effect was already there. ”
The analyst also said that BTC bulls can monitor the funding rate. This relationship on the exchanges can maintain a neutral or negative bias before BTC can start another bull run.
Source: Blockware Intelligence
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
