Profit Executor
REEFBTC 3D Seems to be forming a descending triangle. But until a support of a descending triangle still holding, I'm fully bullish.
REEFBTC 3D UPDATEREEF broke the resistance of a descending triangle and made +47.45% of profit.
Profit Executor
WNXM 6H WNXM playing the ascending channel and keeps growing.
WNXM 6H UPDATEWNXM produced +120% profit with x5 leverage.
Profit Executor
HEX 3D Descending triangle formed on HEX, long the confirmed breakout only.
HEX 3D UPDATEHEX is moving, +47% at current.
Profit Executor
WRX 12H Leg down is coming inside the descending channel.
WRX 12H UPDATEWRX dropped by 30.30%.
Profit Executor
RLC 1H Accumulation period at the support before we break the descending channel.
RLC 1H UPDATERLC is moving, +79% profit so far.
Supporting the optimistic narrative is the Miners Position Index (MPI). CryptoQuant defines this metric as the “ratio of BTC leaving all miners wallets to its 1-year moving average.”
This on-chain indicator is used to gauge the selling pressure from miners. Typically, values above two indicate that miners are offloading their holdings and can negatively impact Bitcoin price.
MPI currently shows a whopping downswing of 105% since January 29.
The slump from 8.82 to -0.25 suggests that these market participants are holding/accumulating BTC and are less inclined to sell. Moreover, MPI has stayed in the negative territory since March 6, with brief but minor spikes above the zero level.
When considering that miners who are the primary source of Bitcoin selling pressure have taken a u-turn, the bullish thesis explained above seems possible.
This on-chain indicator is used to gauge the selling pressure from miners. Typically, values above two indicate that miners are offloading their holdings and can negatively impact Bitcoin price.
MPI currently shows a whopping downswing of 105% since January 29.
The slump from 8.82 to -0.25 suggests that these market participants are holding/accumulating BTC and are less inclined to sell. Moreover, MPI has stayed in the negative territory since March 6, with brief but minor spikes above the zero level.
When considering that miners who are the primary source of Bitcoin selling pressure have taken a u-turn, the bullish thesis explained above seems possible.