All indicators in favor of market to $79,999.9
Today, all indicators are signaling a strong bullish pattern. I expect this positivity to continue until 79,999.9k.
Reasons behind this positive outlook:
Reasons behind this positive outlook:
- RSI Level: On the weekly chart (a powerful timeframe), the RSI is at a neutral level, with no overbought signals.
- Puell Multiple: We are near the bottom of the Puell Multiple. The bottom is typically reached during bear markets. I don't expect this indicator to decline further, as we are in a bull market.
- Greed and Fear Index: Yesterday, we reached the extreme fear level. In bear markets, extreme levels are below 10, but since we are in a bull market, a fear index of 17 is already very low.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.