X-Ray Vision
One of the great advantages of onchain data is we have a degree of X-ray vision at the poker table. We can't see all the cards, but we can see a lot more than the dude looking at his hand only.
G’day Folks,
I have said this before, but onchain data really feels like having a degree of X-Ray vision at the poker table. We can’t see all the cards on the table, but we can see a lot more of them compared to the dude who’s only looking at the cards in his hand.
Over recent months, I’ve been using URPD charts to identify price zones of interest, where concentrations, or gaps in supply are located. This was a key tool we used to think about the $73k to $86k ‘air-pocket’ ahead of time.
I’ve been working through the full history of these metrics, and have finished building a suite of heatmaps to visualise these market dynamics in full colour.
Today, I want to introduce a few of these heatmaps, and use them to explore the current market conditions. I will touch on the following ideas:
How I think about support and resistance using onchain data.
Assess whether the current market is ‘Top Heavy’.
Analyse how investors are responding to this drawdown.
Share my thoughts on the delineation between bull and bear markets, and whether the 4yr cycle is a thing of the past.
We’re going to leverage the X-Ray vision onchain data provides to better understand the areas of interest for navigating the next few months.
I suspect conditions will be trickier to navigate than a lot of people expect.
📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website, and a guide in our Charts Tutorial Video.
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