BTC: Bull Divergence & Short Term Price TargetsBTC RSI showing Bullish divergence.
Short term price levels to watch on Bull break - $6915.27 & $6939.00
Short term price levels to watch on Bear break - $6888.25 & 6859.16
The current Mayer Multiple for BTC is .72 with a BTC price of $6,902.28 and a 200 day moving average of $9,546.76 USD. The Mayer Multiple has historically been higher 90.40% of the time with an average of 1.57.
MAYERMULTIPLE
Update: Mayer Multiple ReversionThis is an update to a previous post noting the resemblance of the Mayer Multiple breakout to the trend in early 2013. Unfortunately, that post and several others were apparently in violation of TradingView rules because I had linked to my twitter account and emails.
Anyways, since then the multiple has reverted back to the 2SD line. I'm increasingly convinced that technical analysis fails to predict where we go from here because of complex social and political factors. Still, it's interesting to note the resemblance, and the indicator is a good way to keep track of the parabolic trend.