Has Bitcoin made it to the top yet??

26 thg 10, 2021

Hi!
In this analysis, I present the arguments to show what many renowned traders already claim:
Bitcoin is only at the beginning of an uptrend.

Why do we have a strong uptrend?
In the red lines of the Bitcoin graph, we have the historical tops.
Below, I configured the CGO (Center of Gravity Oscillator) with a period of 200 days, using a Fibonnaci retraction that goes from 100 to -0.382.

In this indicator, we can see that we still have a lot of room to rise.

Why haven't we made it to the top yet?
We have a very interesting indicator developed by David Puell called "The Puell Multiple".
Basically in a nutshell, it identifies when miners are taking an abrupt and very unusual profit taking.
When we have a peak on this indicator above the red dotted line, we clearly have a top.
In the marked rectangles we can consider a possible exit point.

In the fall we had a few months ago, we can see that it didn't happen, so we still have a new top to discover.

10 thg 11, 2021

Ghi chú

New idea