BTC Active Address Trend (On-chain)

This indicator compares the % change in BTC price and the % change in BTC’s active addresses (BTC’s utility value).

1. % changes in BTC price & active addresses
- Orange line: BTC’s price change (%)
- Gray line: BTC’s active address change (%)
- Red/Yellow/Green lines: Bollinger bands for change in active address

2. Trend:
- Green circles: Bullish Sentiment Trend
Market sentiment is bullish and BTC price outgrows the increase in its utility value (overpricing)
- Red circles: Bearish Sentiment Trend
Market sentiment is bearish and BTC price drops more than the decrease in its utility value (underpricing)

3. Potential Re-Entries:
- Green/Red triangles: potential bullish/bearish entries
When % change of BTC price gets similar to that of active addresses

*Not financial advice.