A Look at BTC Weekly

21 thg 2, 2019

INSIGHTS

- BTC has retraced 84% from all time high of 20k set in Dec 2017.
- Signs of Accumulation continue as Institutions prepare to enter markets.
- Network TX continue to move higher @ 325k Daily since Dec 2018
- OTC Markets continue to grow with companies like: Coinbase, Gemini, Binance and others offering OTC Desk
- Stable Coins (USD/USDT pairs) continue to trend across exchanges

MARKET FUNDAMENTALS

- Custodial Services come online.
- Liquidity | 80% of liquidity coming from Asia Note: US is falling behind in connection to Retail exhaustion and Gov Regulation in U.S.
- Regulation (More BTC Futures Contracts) CME’s bitcoin futures are off to a record-breaking start in 2019. No ETF as of yet.

MARKET STATE
- Ranging inside channel
- Key Levels
- Support @ 3200
- Resistance @ 4100

MOVING AVERAGES
- Price Below 200 EMA @ $4,115
- Price Above 200 MA @ $3,350

AVERAGE DIRECTIONAL INDEX
- ADX @ 27.7 Points
- Nov 12, 2018 ADX Reverses to upside.
- Jan 7, 2019 ADX above 25 Threshold

MINING
- BTC Cost of production (ASIA) $3,200
- Difficulty continues to trend to upside since Dec 18, 2018

BTC STATS
- BTC Dominance = 54%
- Longs (25k) vs Shorts (19k)
- BTC Volatility = 2.1
- MCAP = $69 B

SUMMARY
Was Bearish of BTC at 20k, Bullish on BTC inside $3,800. If price continues to upside above $4,100 and ADX crosses a threshold above 30 points will signal a new trend. Accumulation continues.

Twitter: ItsMrMoe
BTC TipJar: tippin.me/@ItsMrMoe