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.
Profit Executor
KSM 1H Symmetrical Triangle on 1H timeframe.
KSM 1H UPDATEKSM broke the resistance of a triangle and made +80.5% profit with x5 leverage.