Tomáš Hančar
LTH SOPR 20 period MA is at march 2020 levels!
Could this potentially signal that the bottom is near, considering the magnitude of the current sell off after breaking the yearly close 2020 level of 28 980 on a weekly basis? This level served as a major support, absolutely key support for 18 months and now got broken. The absence of purely TA based support underneath all the way to 14k lays most hope towards the 200 weekly moving average from TA perspecitve. As far as long term spent output profit ratio 20 period moving average is concerned - we're at levels of march 2020 suggesting long term holders are experiencing similar levels of pain relatively speaking. Not necessarilly a tradeable bounce to be considered right here in the middle of a 'falling knife' scenario, however excellent opportunity to get more aggressive with DCAing into Bitcoin. Especially considering we're right now (23500-ish) at around the aggregated realized price. Historically speaking, at or below these prices = excellent long term positioning into spot.