A key indicator is flashing buy for ol Bitcoin
A long followed key indicator for bitcoin is flashing a buy signal.
The Mayer Multiple was created several years back by Trace Mayer, in fact I believe he used to be steemit.
The Mayer Multiple is simply the ratio of bitcoin's price to it's 200 day moving average.
It basically tells you the deviation of the current price from bitcoin's longer term trend.
The higher the number the further it has deviated from it's longer term trend.
So, for our use case, the lower the number, the better.
Some specifics on the current Bitcoin Mayer Multiple...
The current Mayer Multiple is .82.
Which is roughly 80% lower than any other point in its history.
Traditionally, this represents a good time to buy.
Based on past data, buying bitcoin anytime the multiple is below 2.4 has yielded good results.
Simulations performed by Trace Mayer determined that in the past, the best long-term results were achieved by accumulating Bitcoin whenever the Mayer Multiple was below 2.4.
Currently bitcoin is significantly below that level as bitcoin is well below it's 200 day moving average currently.
Might be a good time to do some black Friday bitcoin shopping!
Stay informed my friends.
-Doc
It isn't much different from what I use, I just use 40 day moving average.
Reversion to the mean is one of the best ways to trade any financial asset/commodity.
I only picked EMA40 because it was shortest that smoothed out all the rough spots in the graph...
I am not much of a trader but the Halving of BTC might really make things moving @jrcornel :D
Yep, if it doesn't, it would be the first time ever.