BTC Transaction/On-Chain Volume (Basic)Description:
Whale: Whale utilizing discounted prices (increasing on-chain volume & decreasing price)
Recovering: Positive momentum in price after potential whale activity
Cycle Volume Support: The transaction volume support during a cycle
What’s the best time to invest?
After institutions make up their mind at low price levels.
How’s on-chain volume related to whales or institutional money?
On-chain volume is contributed not only by using BTC as payment methods, but more importantly by large custodians using the BTC chain to settle internal whale trades. When OTC volume is estimated 2-3 times of exchange volume, and when total on-chain volume is only a small fraction of the exchange volume, the OTC settlement plays a big factor in moving the on-chain volume around.
Why does the price drop further after spotting whale money?
Does new money equal higher true value? Yes.
Does new money equal higher price? No.
Whales could not only ladder in when they see the price on discount, but also push the price further down to accumulate at better price levels. However, either route chosen, it’s most likely for the price to rise to a higher level compared to the level when the whales enter. Whales are here to make money after all.
Bitcoinfundamentals
🔮 Mayer Multiple w/ MA Selection by Cryptorhythms🔮 Mayer Multiple w/ MA Selection by Cryptorhythms
Description
Introduced by Trace Mayer as a way to gauge the current price of Bitcoin against its long range historical price movements (200 day SMA by default), the Mayer Multiple highlights when Bitcoin is overbought or oversold in the context of longer time frames.
It`s worth noting as the market becomes larger and less volatile, the peaks are becoming less exaggerated. This is because a 200 day moving average baseline is a static yardstick against an ever growing, more stable, Bitcoin market. We should eventually recalibrate what constitutes the overbought/oversold extremes on this chart accordingly.
Additional Features
I added a heatmap based coloring and background highlighting of configurable overbought and oversold zones.
In my testing I observed anecdotal evidence that a value of >1 signaled bull market sentiment and a value of <1 signaled bear sentiment. So I added the dashed line at that value.
I also added secondary zones for experimentation on other timeframes or just plain tinkering.
Lastly I added the ability to substitute the SMA for a few different types of moving averages.
Default Settings
The defaults zones are > 2.4 is overvalued and < 0.5 is undervalued. Default timeframe is daily
Default MA is SMA and default length is 200
Suggested MA length for weekly chart is 28
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