Part 1 of the Article
Welcome back to Trendy News i am Muddasir we’re all george so today bitcoin and crypto is looking pretty darn good so today’s stream is all about why bitcoin is heading higher i have some more metrics to show you guys and bitcoin is pressing up and up against a pretty important uh resistance and if it could break that well we could see some more more highs in the future so let’s discuss thanks for tuning in as always smash up the like subscribe to the channel two streams every day except fridays now friday nights as you guys know i’ve decided to take that off although i do have something in mind that may replace friday nights in the future so hang in there but uh 11 30 and 8 30 p.m for every other day so make sure you hit that notification bell to get notified and follow me on twitter facebook instagram and check out all the latest articles on kryptosrs.com trust me it’s worth your time to go there every single day because there’s a lot of new news reports articles how to guides that is being updated daily all right guys welcome welcome welcome a beautiful saturday morning at least for me and yeah things are looking pretty darn good pretty darn good 34 3 okay so obviously from our bottom our recent bottom we have been climbing quite a bit now i mentioned about this important resistance well this is the one a lot of people’s been talking about it that is i was go to the daily chart and i brought up the the 50 the 50 sma on the daily and you could see bitcoin is pressed right against it right against it and why so many charters and strategists or analysts uh like to look at it .
when bitcoin is in a you know in a growth pattern or in a bull run or recovery you can see it tends to stay above the 50 sma when there is weakness it breaks below but here’s the thing if you go back to last year all the times it broke below was when right when the bottom formed and then it just kept going you know there’s there’s a few small periods here but you could see the big one obviously that dropped bitcoin all the way to 3800 you could see that was pretty drastic and started coming up right but this is the one point that a lot of people are looking at they turn very bearish when bitcoin broke below but now we’re pressed right up against it and it looks like we can if we gain a little bit more volume a little bit more more buying we’ll press you know we’ll break through this and head towards possibly 41 which is a level we haven’t seen for quite some time and obviously we’ll get breakthrough 41 well then watch out the 50s and 60s is right around the corner right so baby steps but it looks like bitcoin is finally ready to break out we’ve been stuck in this channel for quite some time right couple months now a little bit more than a couple months and uh you know it’s about time it’s about time although it could still go sideways for a little bit but the reason i want to stream today is because i want to show you some interesting metrics that show otherwise right and of course i do have ethereum up ethereum is also doing very good almost back to 2200 and if you look at entire market cap it is blooming up above 1.4 trillion dollars and that’s fantastic fantastic all right now something that could be helping today’s push upward is short liquidations you could see since the 21st it was a big big short squeeze right there all right and then the last few days the shorts have been getting burned finally finally we’re seeing the inverse for the past few months you can see the red here those are the longs getting liquidated now we’re finally seeing the shorts feel some pressure they they had it too good for far too long and now we’re starting to see that but regardless i don’t like to see anyone get wrecked and and liquidated through leverage but uh if i had to pick whether whether or not i want to see the shorts get liquidated or the longs of course i’m gonna pick the shorts and we’re seeing that now because of our recent uptrend right uh trust analyze you’ve been consistent thanks for that i appreciate it so this could be helping and this could go this bar could go up even more as bitcoin keeps climbing and we are look at that we’re we’re we’re going up a little bit more 34-4 we’re breaking through so that’s pretty good all right so what else is there why is bitcoin heading higher well the obvious answer is there’s more buying and selling right that’s the obvious answer so i brought up some metrics about wallet sizes so this shows you wallets of over a thousand bitcoins so these are true whales and why did it drop so suddenly well you could argue.
How want to see the shorts get liquidated or the longs of course i’m gonna pick the shorts and we’re seeing that now because of our recent uptrend right uh trust analyze you’ve been consistent thanks for that i appreciate it so this could be helping and this could go this bar could go up even more as bitcoin keeps climbing and we are look at that we’re we’re we’re going up a little bit more 34-4 we’re breaking through so that’s pretty good all right so what else is there why is bitcoin heading higher well the obvious answer is there’s more buying and selling right that’s the obvious answer so i brought up some metrics about wallet sizes so this shows you wallets of over a thousand bitcoins so these are true whales and why did it drop so suddenly well you could argue this is because china pushed all the miners the miners own some of the biggest wallets out there right and this is the reason why it started coming down drastically because they were forced to liquidate and uh and prepared to move out there’s a lot of reasons for it okay but you could see recently around this time frame is when it bottomed out that the miners or just big whales that decide to sell uh it’s starting to trend upwards again they’re starting to accumulate so this is very positive this is for ultra extreme wheels now uh here’s i don’t have oops i don’t have the 100 but going down to anyone above 10 which is still you know retail investors but the wealthier uh retail investors you can see that this number also dropped down until this point and now you could obviously see it’s curving back up in fact there was a huge spike recently but you could see the bottom like around right here right and now things are curving upwards so that’s also positive what about people that just have above a bitcoin obviously retail investors right a lot.
you know left and now you could see again retail investors starting to buy in so more and more accumulation behind the scenes and here’s another one that sums up everything from glass node so this is point one to one which is this line this is the the really the newbies right that’s coming in and you can see that line just never stopped it just kept going and going going there was no drop at all and then you could see the 1 to 10 which is this one right it came down and then suddenly it stopped and it started going up so this is kind of like a summary what i’ll show you guys here’s and then here’s another one the red one is 10 to 100 which you can see dropped significantly but again started turning up right so basically people are starting to accumulate while bitcoin’s price has been dropping and being held within this range right due to a lot of reasons um you know smart investors and it doesn’t even have to be institutions it could just be whales it could be retail investors the smart investors have been buying and holding okay they’ve been buying and holding and buying and holding and that’s what they’ve been doing and the more of that there is the the better it is for price right which is why bitcoin seems to have found the bottom and this recent test what didn’t even go lower it was actually above our previous low of 28 recently and now seems like we are heading higher now other things that i’ve shown you guys previously for example the greed and fear index which will update i’m i’m guessing it’s going to update to something much better some something much higher than 20s but i also did mention that you know when you have a clump of fear like this and we’ve been you know stuck in here for quite some time that’s also a pretty good indication that things are going to turn up because there’s just too much you know too much fear in one localized spot um you know using a contrarian trading view point then yeah that’s when you need to get more greedy and all the smart investors that’s what they always say buy when others are fearful or buy when there’s blood in the streets because that’s how you make the most money right so this also shows pretty good last thing i want to show you guys is something else i’ve found before which is the ssr this measure stable coin supply versus bitcoin supply and why is this relevant well when you have a lot of when you have a lot of uh stable coins just floating on exchanges what do you think is going to happen to them the reason why they’re parked