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HODL Waves

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Metric Description

HODL Waves is used to track the holding time of BTC after the last move. Through this indicator, you can visually see all unspent (unmoved after the last move) BTC, how long it has been held, and how long it has been held. The distribution of BTC over time.

Set the SMA parameter to 90 and observe:

1) The percentage of BTC held for a long time (6 months to 3 years) is generally negatively correlated with the market price trend; the percentage of BTC held for a short time (1 day to 6 months) is generally negatively correlated with the market price trend positive correlation

The reason for the above phenomenon is that in a long-term uptrend, long-term holders continue to distribute chips to short-term holders, and BTC held for a long time will continue to be converted into BTC held for a short time; in a long-term downtrend , long-term holders continue to collect chips from the selling of short-term holders, and BTC held for a short time will continue to be converted into BTC held for a long time.

2) The percentage trend of BTC that has been held for a long time (6 months to 3 years) can be used as an auxiliary indicator for judging the bottom range, that is, it has been judged that the market is close to the bottom range using other indicators. The indicator began to turn downward, indicating that most of the cheap chips have completed the change of hands, and some long-term holders began to sell and surrender during the price drop (need to exclude the case of the exchange sorting their wallets), which often corresponds to the bottom range of the price.

3) The percentage trend of BTC that has been held for a short time (1 day to 6 months) can be used as an auxiliary indicator for judging the bottom range, that is, it has been judged that the market is close to the bottom range using other indicators. The indicator begins to turn its head upwards, indicating that the price at this time is very attractive, and it often corresponds to the bottom range of the price.

This indicator was originally created by . For more information see .

Unchained Capital