Michael Nadeau
👤 SpeakerAppearances Over Time
Podcast Appearances
So we're up to 19%.
We're looking to see that get closer to 30% or so.
the price to the 200 week moving average.
Bitcoin typically will trade down to its 200.
It's a longer term, 200 week moving average.
That's about a four year moving average.
In the last few bear markets, we came to it.
We went below it in the last.
We're still above it here.
We look at the 12-month RSI.
It's more of a momentum indicator, but that's something we will look at.
That's already down to 45 or so.
It usually gets down to about 40.
That's a momentum indicator.
And because we've come off quite a bit, it's already getting down to those levels.
And then the other thing that we look at
What's happening with miners, hash rate's down about 15% or so as the price comes below sort of the average cost to mine one Bitcoin for certain mining entities.
They have to either shut off their machines to conserve energy, sometimes sell their Bitcoin.
And so these are the things that we're kind of anchoring to