This tape is not flat. It is below break-even.
I weighted each major's last seven sessions by its own turnover and compared that average paid price to spot. $ZEC is the only one above it, at 0.93%. $ETH is 2.58% under, $UNI 2.20% under, Bitcoin 2.03% under. That explains the weekend: buyers from this week have no reason to add, and none are deep enough to capitulate.
Three checks before the open, in this order:
1. Price against the seven-day average paid price, not the 24h change. Under it, every bounce is supply.
2. The ETF print, not the candle. 1.28 billion dollars left US spot Bitcoin funds in the five sessions to Friday.
3. The year, not the week. It was 368 million positive; five sessions made it 914 million negative.
Waiting, no adds. Two daily closes above 77,500 and I'm wrong: that is where the average week-buyer stops being a seller.
Data as of today. Not financial advice.
Reclaim, or wait for the print?
#BinanceSquare #Zcash #Altcoins
I weighted each major's last seven sessions by its own turnover and compared that average paid price to spot. $ZEC is the only one above it, at 0.93%. $ETH is 2.58% under, $UNI 2.20% under, Bitcoin 2.03% under. That explains the weekend: buyers from this week have no reason to add, and none are deep enough to capitulate.
Three checks before the open, in this order:
1. Price against the seven-day average paid price, not the 24h change. Under it, every bounce is supply.
2. The ETF print, not the candle. 1.28 billion dollars left US spot Bitcoin funds in the five sessions to Friday.
3. The year, not the week. It was 368 million positive; five sessions made it 914 million negative.
Waiting, no adds. Two daily closes above 77,500 and I'm wrong: that is where the average week-buyer stops being a seller.
Data as of today. Not financial advice.
Reclaim, or wait for the print?
#BinanceSquare #Zcash #Altcoins
