thetradingparrot
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Did yesterday's dump impact the upcoming Bitcoin supply shock?
🕑 Added 2021-09-08 19:51:42 +0000 UTC
I really recommend subscribing the Willy Woo report.
It gives you exposure to on chain data analysis in a very easy to understand way. I just read the report and this image summarises everything.
Price went down due to leverage traders, there was a very low number of long or short term investors selling this time. Exchange flows look pretty much intact as well.
If you look at the chart above and compare this week dump to May 2021 or March 2020 covid crash we are looking almost intact.
This indicates that the supply shock and higher prices are still high likely to come.
Of course nothing is guaranteed and there are external factors always that can delay or change the direction we are currently heading to, but it's important to use reports like this to wide our spectrum.
Personally I like to keep an eye on on-chain data, fundamentals, TA and external factors.
But it's difficult to see all at the same time in detail, which is why I use reports like this to reduce my areas of reduce sight. I do have a glass node account and can look into incorporating some of the notifications I'm getting into our discord channels if you guys are interested but so far I really appreciate how much time these reports save me so I don't have to be everyday digging into tens of charts on glass node.
You can check his twitter account, telegram channel and subscribe his frequent articles straight to your email.
How do you keep yourself informed for on-chain data?
Comments
Thank you for sharing 👍🏽
