Facundo Fama
Bitcoin $79K: Don’t FOMO, Seek Confluence and Be Patient ↓
• The market has recovered in the short term, but at the macro level, price action, on-chain data, and derivatives show that Bitcoin is still in a downtrend. The analysis across the three areas is presented in the images. • The analysis covers: Bitcoin price on the weekly timeframe (including the SMA50 and Anchored VWAPs from the Fourth Halving and the latest ATH), Open Interest on the 3-day timeframe, Realized Cap on the weekly timeframe, NUPL and Supply in Loss. • I used Japanese candlesticks as the data visualization and analytical method across all the market data analyzed in this post.