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Puell

Has Bitcoin made it to the top yet??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.
BNC:BLXLong
by andre_007