#BTCDOMINANCE
Bitcoin dominance forming a double bottom and being oversold. Bitcoin will come back later, after a full Altcoin season.
Bitcoin dominance forming a double bottom and being oversold. Bitcoin will come back later, after a full Altcoin season.
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The key metric that involves understanding volatility and selling pressure/losses during a price dump is Seller Exhaustion Constant.
The seller exhaustion constant is the % of bitcoin total circulating supply in profit multiplied by its volatility over the last 30 days. The combination of low volatility and high losses is associated with a bottoming out of the bitcoin price.
The metric may sound relatively new and complex to gauge on the first read, the downright fact is that these metrics identified several bottoms and top signals over the past 18-months.
If the Seller Exhaustion Constant chart is observed, it identified the bottom in January 2019, and also touched upon the bottom during March 2020 collapse. At press time, the indicator is fairly neutral hence it can be taken as a guaranteed outlook that BTC will eventually drop a little more than its current valuation, irrespective of bullish conditions.
The seller exhaustion constant is the % of bitcoin total circulating supply in profit multiplied by its volatility over the last 30 days. The combination of low volatility and high losses is associated with a bottoming out of the bitcoin price.
The metric may sound relatively new and complex to gauge on the first read, the downright fact is that these metrics identified several bottoms and top signals over the past 18-months.
If the Seller Exhaustion Constant chart is observed, it identified the bottom in January 2019, and also touched upon the bottom during March 2020 collapse. At press time, the indicator is fairly neutral hence it can be taken as a guaranteed outlook that BTC will eventually drop a little more than its current valuation, irrespective of bullish conditions.