• Home
  • TV
  • Podcast
  • APP
No Result
View All Result
Subscribe
×
Okta
  • Learn
    • All
    • Crypto Basics
    • Token Metrics Tutorials
    • Weekly Index Performance
    Free
    NEW Token Metrics Crypto Market Indicators

    NEW Token Metrics Crypto Market Indicators

    NFTs Explained: What Are Non-Fungible Tokens?

    NFTs Explained: What Are Non-Fungible Tokens?

    Free
    Weekly Index Performance – April 27, 2022

    Weekly Index Performance – April 27, 2022

    Free
    When Does the Crypto Market Close?

    When Does the Crypto Market Close?

    Free
    Will Shiba Inu reach $1?

    Will Shiba Inu reach $1?

    Free
    How to Receive Crypto Alerts Through Token Metrics

    How to Receive Crypto Alerts Through Token Metrics

    Free
    What is KYC in Regard to Crypto?

    What is KYC in Regard to Crypto?

    Free
    What Causes Crypto To Rise?

    What Causes Crypto To Rise?

    Free
    What is WETH Wrapped Ethereum?

    What is WETH Wrapped Ethereum?

    • Crypto Basics
    • Weekly Performance
  • Market Analysis
    • All
    • Market Navigator
    • Market Update
    • Price Prediction
    Premium
    The Purge | Market Update

    The Purge | Market Update

    Premium
    Crypto Fire Alarm | Market Navigator

    Crypto Fire Alarm | Market Navigator

    Premium
    Reduce Exposure to Risk Assets | Navigator

    Reduce Exposure to Risk Assets | Navigator

    Free
    Ethereum vs. Solana: What You Should Know Before Investing

    Ethereum vs. Solana: What You Should Know Before Investing

    Monero’s Breakthrough (XMR): Price Prediction

    Monero’s Breakthrough (XMR): Price Prediction

    Bitcoin Downturn, A-B-C Wave Means It’s Time To Reduce Risk | Market Update

    Bitcoin Downturn, A-B-C Wave Means It’s Time To Reduce Risk | Market Update

    Premium
    Token Metrics ‘All Exchange’ Index Moves To Cash | Market Update

    Token Metrics ‘All Exchange’ Index Moves To Cash | Market Update

    Risks to Crypto, Charting Interest Rates & Stocks | Navigator

    Risks to Crypto, Charting Interest Rates & Stocks | Navigator

    Free
    Can Crypto Go Lower? Price Cycle Analysis Shows Summer Bottom

    Can Crypto Go Lower? Price Cycle Analysis Shows Summer Bottom

    • Market Update
    • Price Prediction
    • Market Navigator
  • Deep Dive
  • Hidden Gems
    • All
    • DeFi
    • Gaming and Metaverse
    • NFTs
    • Web 3
    Premium
    platypus finance

    Platypus Finance | Hidden Gems – DeFi

    Premium
    moonbirds

    Moonbirds, Secret Garden Bouquet, CryptoFighters Alliance, Teenage Mutant Ninja Turtles NFT | Hidden Gems – NFT

    Premium
    Yield Farming on Arrakis, Beefy Finance | Hidden Gems – Defi

    Yield Farming on Arrakis, Beefy Finance | Hidden Gems – Defi

    Premium
    nft

    Otherdeed for Otherside, IO: Imaginary Ones, SkyVerse, Mindblowon | Hidden Gems – NFT

    Premium
    State Of Gaming Guilds – Is It A Sustainable Long-Term Trend?

    State Of Gaming Guilds – Is It A Sustainable Long-Term Trend?

    Premium
    Civitas, Shrapnel, BreederDAO, & Blast Royale | Hidden Gems – Gaming and Metaverse

    Civitas, Shrapnel, BreederDAO, & Blast Royale | Hidden Gems – Gaming and Metaverse

    Premium
    Nomad, Context, Papyrus | Hidden Gems – Web 3

    Nomad, Context, Papyrus | Hidden Gems – Web 3

    Premium
    C2X, Delysium, Pianity, & Afar | Hidden Gems – Gaming and Metaverse

    C2X, Delysium, Pianity, & Afar | Hidden Gems – Gaming and Metaverse

    Premium
    Jambo Technology, Derby Stars, WorldSpark Studios, IndiGG | Hidden Gems – Gaming and Metaverse

    Jambo Technology, Derby Stars, WorldSpark Studios, IndiGG | Hidden Gems – Gaming and Metaverse

    • DeFi
    • Gaming and Metaverse
    • NFTs
  • Code Reviews
  • Reports
    • All
    • Altcoin Quarterly
    • Awards and Ratings
    Premium
    Best Altcoins of 2021 | Altcoin Quarterly Report | Q4 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q4 2021

    Premium
    Best Altcoins of 2021 | Altcoin Quarterly Report | Q3 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q3 2021

    Free
    Coinbase vs. Coinbase Pro: Which is Better for Investors in 2022?

    Coinbase vs. Coinbase Pro: Which is Better for Investors in 2022?

    Free
    Top 3 Biggest Crypto Companies In 2022

    Top 3 Biggest Crypto Companies In 2022

    Free
    Top 10 Climate Friendly Crypto Projects 2022

    Top 10 Climate Friendly Crypto Projects 2022

    Premium
    Best Altcoins of 2021 | Altcoin Quarterly Report | Q2 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q2 2021

    Free
    10 Most Influential Women In Crypto

    10 Most Influential Women In Crypto

    Free
    Best Crypto Twitter Accounts of 2022

    Best Crypto Twitter Accounts of 2022

    Free
    Best Crypto Gifts for the Holidays

    Best Crypto Gifts for the Holidays

    • Altcoin Quaterly
    • Moon Awards
  • Learn
    • All
    • Crypto Basics
    • Token Metrics Tutorials
    • Weekly Index Performance
    Free
    NEW Token Metrics Crypto Market Indicators

    NEW Token Metrics Crypto Market Indicators

    NFTs Explained: What Are Non-Fungible Tokens?

    NFTs Explained: What Are Non-Fungible Tokens?

    Free
    Weekly Index Performance – April 27, 2022

    Weekly Index Performance – April 27, 2022

    Free
    When Does the Crypto Market Close?

    When Does the Crypto Market Close?

    Free
    Will Shiba Inu reach $1?

    Will Shiba Inu reach $1?

    Free
    How to Receive Crypto Alerts Through Token Metrics

    How to Receive Crypto Alerts Through Token Metrics

    Free
    What is KYC in Regard to Crypto?

    What is KYC in Regard to Crypto?

    Free
    What Causes Crypto To Rise?

    What Causes Crypto To Rise?

    Free
    What is WETH Wrapped Ethereum?

    What is WETH Wrapped Ethereum?

    • Crypto Basics
    • Weekly Performance
  • Market Analysis
    • All
    • Market Navigator
    • Market Update
    • Price Prediction
    Premium
    The Purge | Market Update

    The Purge | Market Update

    Premium
    Crypto Fire Alarm | Market Navigator

    Crypto Fire Alarm | Market Navigator

    Premium
    Reduce Exposure to Risk Assets | Navigator

    Reduce Exposure to Risk Assets | Navigator

    Free
    Ethereum vs. Solana: What You Should Know Before Investing

    Ethereum vs. Solana: What You Should Know Before Investing

    Monero’s Breakthrough (XMR): Price Prediction

    Monero’s Breakthrough (XMR): Price Prediction

    Bitcoin Downturn, A-B-C Wave Means It’s Time To Reduce Risk | Market Update

    Bitcoin Downturn, A-B-C Wave Means It’s Time To Reduce Risk | Market Update

    Premium
    Token Metrics ‘All Exchange’ Index Moves To Cash | Market Update

    Token Metrics ‘All Exchange’ Index Moves To Cash | Market Update

    Risks to Crypto, Charting Interest Rates & Stocks | Navigator

    Risks to Crypto, Charting Interest Rates & Stocks | Navigator

    Free
    Can Crypto Go Lower? Price Cycle Analysis Shows Summer Bottom

    Can Crypto Go Lower? Price Cycle Analysis Shows Summer Bottom

    • Market Update
    • Price Prediction
    • Market Navigator
  • Deep Dive
  • Hidden Gems
    • All
    • DeFi
    • Gaming and Metaverse
    • NFTs
    • Web 3
    Premium
    platypus finance

    Platypus Finance | Hidden Gems – DeFi

    Premium
    moonbirds

    Moonbirds, Secret Garden Bouquet, CryptoFighters Alliance, Teenage Mutant Ninja Turtles NFT | Hidden Gems – NFT

    Premium
    Yield Farming on Arrakis, Beefy Finance | Hidden Gems – Defi

    Yield Farming on Arrakis, Beefy Finance | Hidden Gems – Defi

    Premium
    nft

    Otherdeed for Otherside, IO: Imaginary Ones, SkyVerse, Mindblowon | Hidden Gems – NFT

    Premium
    State Of Gaming Guilds – Is It A Sustainable Long-Term Trend?

    State Of Gaming Guilds – Is It A Sustainable Long-Term Trend?

    Premium
    Civitas, Shrapnel, BreederDAO, & Blast Royale | Hidden Gems – Gaming and Metaverse

    Civitas, Shrapnel, BreederDAO, & Blast Royale | Hidden Gems – Gaming and Metaverse

    Premium
    Nomad, Context, Papyrus | Hidden Gems – Web 3

    Nomad, Context, Papyrus | Hidden Gems – Web 3

    Premium
    C2X, Delysium, Pianity, & Afar | Hidden Gems – Gaming and Metaverse

    C2X, Delysium, Pianity, & Afar | Hidden Gems – Gaming and Metaverse

    Premium
    Jambo Technology, Derby Stars, WorldSpark Studios, IndiGG | Hidden Gems – Gaming and Metaverse

    Jambo Technology, Derby Stars, WorldSpark Studios, IndiGG | Hidden Gems – Gaming and Metaverse

    • DeFi
    • Gaming and Metaverse
    • NFTs
  • Code Reviews
  • Reports
    • All
    • Altcoin Quarterly
    • Awards and Ratings
    Premium
    Best Altcoins of 2021 | Altcoin Quarterly Report | Q4 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q4 2021

    Premium
    Best Altcoins of 2021 | Altcoin Quarterly Report | Q3 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q3 2021

    Free
    Coinbase vs. Coinbase Pro: Which is Better for Investors in 2022?

    Coinbase vs. Coinbase Pro: Which is Better for Investors in 2022?

    Free
    Top 3 Biggest Crypto Companies In 2022

    Top 3 Biggest Crypto Companies In 2022

    Free
    Top 10 Climate Friendly Crypto Projects 2022

    Top 10 Climate Friendly Crypto Projects 2022

    Premium
    Best Altcoins of 2021 | Altcoin Quarterly Report | Q2 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q2 2021

    Free
    10 Most Influential Women In Crypto

    10 Most Influential Women In Crypto

    Free
    Best Crypto Twitter Accounts of 2022

    Best Crypto Twitter Accounts of 2022

    Free
    Best Crypto Gifts for the Holidays

    Best Crypto Gifts for the Holidays

    • Altcoin Quaterly
    • Moon Awards
No Result
View All Result
No Result
View All Result
Home Market Analysis

6 Best Bitcoin Charts To Watch After This Crash

by Stephen Tuttle
2022/04/14
in Market Analysis, Market Update
Reading Time: 4 mins read
0
6 Best Bitcoin Charts To Watch After This Crash
0
SHARES
4
VIEWS

Bitcoin experienced a powerful 15% crash over the past weekend, and total crypto market cap has been traveling in a steep downward trend since mid November, ’21. This piece covers 6 of the best Bitcoin charts to watch after this crash.

For the past few months, tailwinds from the US Federal Reserve have created bearish movements across risk-on assets. Last year, most crypto investors felt that $40k would hold as solid support for Bitcoin. Therefore, Bitcoin’s recent crash to $34k has left everyone stunned and speculating. Currently, most crypto investors want to know whether Bitcoin can go lower, and if it can, then how low can it go?

Bitcoin vs NASDAQ

Percentage growth: Bitcoin (orange) vs the NASDAQ (blue)
Percentage growth: Bitcoin (orange) vs NASDAQ (blue)

2021 saw huge inflows from institutional investors into crypto. Now, supplied with all this new institutional capital, is it possible that Bitcoin has become a leading indicator for equities? That could be true, or, this apparent correlation could simply be a coincidence.

In accordance with our Senior Market Analyst Bill Noble, “This recent crypto movement tells us that inflation can’t be at 7% while the federal funds rate is at 0%. Additionally, the Fed needs to remidy this issue by August, so as to not be hiking rates near an election.”

Bitcoin RSI Low

Bitcoin’s daily RSI hit its lowest value since March 12th, 2020 (the covid crash). Such significantly oversold RSI levels (below 20) occur from correspondingly big price movements. Bitcoin’s low RSI value at 19.42 tells us that Bitcoin is moving at peak bearish momentum.

Buyers Of BTC Since December 2020 Near A Loss

As displayed in the chart above, $31k has acted as support for Bitcoin since December 2020. If Bitcoin’s downward trend continues, then all holders who bought BTC after December 2020 will soon be holding at a loss. Going forward, if $31k support does not hold, the next area of support lies on Bitcoin’s 200 week moving average (which is $19.2k at the time of writing).

Bill Noble – Elliott Wave Projection

Recently, in his Market Update daily livestream, Bill Noble shared an Elliott wave to project potential bottoms for Bitcoin. Bill believes Bitcoin is currently traveling in wave 3 of a bearish cycle. By comparing these waves with Gann support and resistance, Bill has projected $25k and $19.2k as potential bottoms for Bitcoin in the short-term.

Bitcoin Hash Rate

Lastly, Bitcoin’s total hashrate (the metrics used to calculate the total computational power utilized within the Bitcoin network) has surpassed its all time high. This means that, although Bitcoin’s price has recently declined, Bitcoin as a network is now stronger than ever.

Token Metrics Low Frequency Trade Strategy

The Token Metrics low-frequency trading strategy flashed bearish on Nov 22, ’21, back when Bitcoin was trading at $53k. Since then, the strategy is still yet to produce a buy signal. Normally, TM low-frequency buy signals occur after price has sufficiently bottomed. Therefore, according to this strategy, Bitcoin is still yet to find its bottom price.

Conclusion

There are numerous dynamics at play within the current crypto economy, and each work to make the crypto market especially susceptible to volatility. Among the most important of these dynamics, are: 

  • off-shore leverage 
  • regulatory uncertainty
  • cross-collateralization (specifically in DeFi) 

Going forward, the crypto market looks bearish, at least until the Token Metrics AI says otherwise. Currently, to hedge against downside, the TM Kraken daily index holds an over 50% position in PAX Gold and Bitcoin.

A bullish signal will occur when the Token Metrics indices shift out of gold and Bitcoin, and back into entirely altcoins.

Bitcoin’s chart, alternatively, appears relatively healthy and sustainable. Most notably, it will be interesting to see whether $28k will again act as Bitcoin’s macro bottom price, or, whether the recent wick to $34k will be the bottom. 

Tags: FreeMarket Update
Stephen Tuttle

Stephen Tuttle

Stephen Tuttle is a writer for Token Metrics, an industry-leading cryptocurrency data, research, and ratings company. Entrepreneurship, fintech, and economics are his main sources of inspiration.

Next Post
Premium
Market Update – January 27th, 2022

Market Update - January 27th, 2022

Comments 0

  1. Pingback: Bitcoin - Fed Movements & Thursday's Inflation Report - Token Metrics Blog

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

COMPANY

  • About Us
  • Contact Us
  • Privacy Policy
  • Sitemap

7600 Chevy Chase Drive, Suite 300, Austin, Texas, 78752, USA
Email: info@tokenmetrics.com | Tel: +1-888-908-6536

DISCLAIMER

Token Metrics Media LLC is a regular publication of information, analysis, and commentary focused especially on blockchain technology and business, cryptocurrency, blockchain-based tokens, market trends, and trading strategies.

Token Metrics Media LLC does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Token Metrics Advisers LLC registered as an investment adviser or broker-dealer in any jurisdiction.

Information contained herein is not an offer or solicitation to buy, hold, or sell any security. The Token Metrics team has advised and invested in many blockchain companies. A complete list of their advisory roles and current holdings can be viewed here: https://tokenmetrics.com/disclosures/

Token Metrics Media LLC relies on information from various sources believed to be reliable, including clients and third parties, but cannot guarantee the accuracy and completeness of that information. Additionally, Token Metrics Media LLC does not provide tax advice, and investors are encouraged to consult with their personal tax advisors.

All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Ratings and price predictions are provided for informational and illustrative purposes, and may not reflect actual future performance.

Copyright © 2022 - Token Metrics - All Rights Reserved

No Result
View All Result
  • Learn
    • Crypto Basics
    • Weekly Performance
  • Market Analysis
    • Market Update
    • Price Prediction
    • Market Navigator
  • Deep Dive
  • Hidden Gems
    • DeFi
    • Gaming and Metaverse
    • NFTs
  • Code Reviews
  • Reports
    • Altcoin Quaterly
    • Moon Awards

Copyright © 2022 Token Metrics All Rights Reserved