Where are we?
Neutral. That reading has stood since 31 August. The zone is where this instrument reads the market, and it did not change this week.
Cheap or expensive — against what?
Against the crowd’s cost — the average price every coin last changed hands at. Today you are buying above that line, not below it, and a little further above it than a week ago. Measured against the last four years of that same comparison, this week’s reading sits in the lower middle of the range. Whether the price is high or low in dollars is a different question, and this instrument does not answer it.
What changed this week?
Price rose about 3% from last Monday’s reading to this one. The zone reading did not move. Underneath, the engine’s own reading moved up.
What did the rule say?
If you buy on a weekly plan, that buy stood as usual. Anything extra? Yes, the first since early September. The amount the rule had held back for two weeks, together with this week’s share, reached the smallest size it acts on, so an extra buy — held-back money, not more than the plan — was placed the same day and filled in full, inside the price limit the rule set. Nothing was left resting and nothing lapsed.
What a weekly buyer does with this
In Neutral, a rule-based plan buys its usual weekly amount — no more, no less. It buys more than usual only in the cheap zone, and less than usual in the expensive one. Neither applies this week. On the chart above, this week’s lines: the cheap zone ends near $69,000, Neutral runs to about $104,000 where the expensive zone begins, and above about $119,000 the rule buys nothing.
What we still can’t see
Inputs behind this read: the crowd’s cost as of 4 October; three of the other on-chain series as of 28 September, a week behind at the data vendor, and the fourth as of 4 October.