Bitcoin Bear Trap: A Historical Pattern Suggests a Rally Ahead!
BTCUSDT technical analysis update.
The Puell Multiple is a metric that compares the daily issuance of Bitcoin (in USD) to the 365-day moving average of that same issuance. When the Puell Multiple is low, it often indicates that Bitcoin is undervalued, signaling a potential accumulation phase or a bear trap. Conversely, a high Puell Multiple suggests overvaluation, often preceding market corrections.
Currently, the Puell Multiple shows that Bitcoin is trading at levels consistent with previous bear traps in its market history. This pattern has appeared in the last three cycles of Bitcoin, where price action initially suggested bearish momentum before reversing sharply into a bullish trend.
In the previous cycles, the Puell Multiple signaled bear traps, allowing traders to identify key accumulation points. Following these signals, Bitcoin experienced significant bullish rallies, highlighting the indicator's reliability. With the current Puell Multiple levels indicating a bear trap, we could be on the brink of a bullish rally in the coming days.
Regards
Hexa
The Puell Multiple is a metric that compares the daily issuance of Bitcoin (in USD) to the 365-day moving average of that same issuance. When the Puell Multiple is low, it often indicates that Bitcoin is undervalued, signaling a potential accumulation phase or a bear trap. Conversely, a high Puell Multiple suggests overvaluation, often preceding market corrections.
Currently, the Puell Multiple shows that Bitcoin is trading at levels consistent with previous bear traps in its market history. This pattern has appeared in the last three cycles of Bitcoin, where price action initially suggested bearish momentum before reversing sharply into a bullish trend.
In the previous cycles, the Puell Multiple signaled bear traps, allowing traders to identify key accumulation points. Following these signals, Bitcoin experienced significant bullish rallies, highlighting the indicator's reliability. With the current Puell Multiple levels indicating a bear trap, we could be on the brink of a bullish rally in the coming days.
Regards
Hexa
🚀 Join the No. 1 altcoin options exchange and Get 10 USDT trial bonus
coincall.com/r/01111077
💬Telegram: t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
coincall.com/r/01111077
💬Telegram: t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.