The Indicator That Finds All the Peaks and Bottoms in Bitcoin Lit “Green”!

bitcoin While it increased the level of fear in the market as it fell below $20,000 again, the $19800 level is followed closely as it represents the peak of 2017.

In these days when it is difficult to technically interpret Bitcoin following what is happening with the global markets, on-chain data continues to give the “green” light.

bitcoin When it went down to $18,000 levels, the 5 indicators we shared remained in the buy zone, while another indicator lit a bottom signal.

glassnode posted by “Net unrealized profit/loss” (LTH-NUPL) of wallets with long-term Bitcoin market again according to the graph capitulation entered the region.

As can be seen in the chart, peaks are seen in Bitcoin when this indicator leaves the blue zone (greed).

The real bull market starts at the entrance to the blue zone. The first moment we enter this region can be considered as the beginning of the bull and the end of our exit.

We see that this table works very well in 2012, 2013, 2014 and 2017. We see that we descended into the red zone again after every summit, except for 2013.

Orange and red regions according to this table bitcoin and in altcoins points to very good buying opportunities and now we are in this region again.

We spent about 8 months in the “red” zone in 2015, and 4 months in 2018. For this reason, although this data gives a bottom signal, it should not be interpreted as a sharp rise from here.

However, if we look at the previous movements bitcoinWe can say that we are very close to the bottom of the bear market. If the current price level is not a bottom, a last “dump” will be a big buying opportunity.

Do not forget that the analyzes made according to such indicators are made for the determination of the general direction of the market and on a long-term basis. Short-term fluctuations are not the subject of this analysis.

*Not Investment Advice.