1066: Here's What 'Max Pain' Could Look Like for Bitcoin HODL'ers, According to Top On-Chain Analyst!!
Bitcoin News Alerts | Daily BTC Macro Signal
Bitcoin News Alerts
3.8 • 635 Ratings
🗓️ 6 October 2022
⏱️ 20 minutes
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Summary
A popular on-chain Bitcoin analyst claims the current crypto bear market hasn't yet sent as many BTC underwater as previous cryptocurrency bear markets.
BTC analyst Willy Woo notes that showing how many Bitcoin are at a lower value compared to their purchase price is "one way of visualizing maximum pain."
Woo's chart indicates that Bitcoin's 60% underwater level is currently hovering around $10,000.
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Transcript
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| 0:47.7 | In today's show, Bitcoin beats out shorts as the Bitcoin price attempts to crack $20,500. |
| 0:53.6 | I'll be breaking down the litus technical analysis, |
| 0:55.7 | including crypto analyst Mikalvindipop. Correction indeed taken place in which 19,800 to 19,900 |
| 1:01.6 | is in an area to look for longs, but also a recess around 19,600 is an important one. |
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