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Bitcoin Price Analysis and On-Chain Data Breakdown by Cheeky Crypto


Cheeky Crypto’s JB recently hosted a solo video on-chain Bitcoin data and price analysis. He began by discussing Bitcoin’s recent price movement, noting that it has been trading sideways, bouncing between the 200 EMA and the 50 SMA. He expected a drop toward the 200 EMA, which happened, followed by a move up with resistance at the 50 SMA.

JB then examined the stochastic reset and identified a potential target price range between $36,100 and $36,600. However, he acknowledged that the charts currently lack clear structure.

Moving on to trade execution, JB shared that he opened a trade on a Friday, which he typically avoids but turned out profitable in this case. He is now considering whether to keep the trade open over the weekend, knowing that it can be a volatile time.

For more in-depth on-chain data analysis, JB directed viewers to his membership site. He then highlighted key on-chain data points, including Bitcoin’s all-time high and low, circulating supply, and network statistics.

Next, JB analyzed wallets holding various amounts of Bitcoin, including those holding over 1 million, 400,000, 100,000, 10,000, 1,000, and 100 Bitcoin. He found that the number of wallets holding over 10,000 and 100 Bitcoin has slightly increased, but those holding over 1,000 Bitcoin have dropped.

Finally, JB examined Bitcoin inflows and outflows on exchanges, noting a higher inflow in the last 24 hours. He also analyzed liquidations on different exchanges, focusing on the imbalance between long and short positions. He expressed concern about certain exchanges’ liquidation practices.

JB concluded the video by addressing viewer comments and plans for future videos, including a weekly roundup. He thanked viewers for their support and emphasized safe trading during volatile weekends.

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