Popular quant analyst PlanB says that one key indicator suggests a Bitcoin (BTC) bull market is now forming.

In a video update, the pseudonymous analyst tells his 209,000 YouTube subscribers that a combination of 200-week means suggests Bitcoin may soon enter an explosive uptrend based on historical precedent.

The analyst says that the 200-week arithmetic and the 200-week geometric are currently close together on the chart, signaling a possible Bitcoin breakout.

“It might be that the bull market is still forming and that the [arithmetic mean] will separate again, will diverge again, from the geometric mean.

One more thing on those two lines. Notice that you can’t have a bear market or a big crash when the 200-week [arithmetic mean] and the geometric mean are together. The big crashes here [in 2021 and 2022] are happening when there’s a diversion between the two lines. Also, here in 2018, there was a big gap between the two [means]. Same here in 2014 and 2015.”

The analyst says that when the two types of 200-week means were near each other on the chart in 2020 and 2017, Bitcoin soon went on explosive runs to the upside.

“In fact, if we look at the historical situations where the lines are together, that would be here at the end of 2020; that’s when the bull market began. The end of the bull market, the FOMO (fear of missing out) phase. Same [thing] in the beginning of 2017, the lines were together. So [arithmetic mean] and geometric mean together could mean the bull market is about to start.”

Bitcoin is trading for $80,641 at time of writing, up nearly 2% on the day.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Technical Indicator Suggesting Bitcoin (BTC) Bull Market Hasn’t Started Yet: Quant Analyst PlanB appeared first on The Daily Hodl.

Popular quant analyst PlanB says that one key indicator suggests a Bitcoin (BTC) bull market is now forming.

In a video update, the pseudonymous analyst tells his 209,000 YouTube subscribers that a combination of 200-week means suggests Bitcoin may soon enter an explosive uptrend based on historical precedent.

The analyst says that the 200-week arithmetic and the 200-week geometric are currently close together on the chart, signaling a possible Bitcoin breakout.

“It might be that the bull market is still forming and that the [arithmetic mean] will separate again, will diverge again, from the geometric mean.

One more thing on those two lines. Notice that you can’t have a bear market or a big crash when the 200-week [arithmetic mean] and the geometric mean are together. The big crashes here [in 2021 and 2022] are happening when there’s a diversion between the two lines. Also, here in 2018, there was a big gap between the two [means]. Same here in 2014 and 2015.”

The analyst says that when the two types of 200-week means were near each other on the chart in 2020 and 2017, Bitcoin soon went on explosive runs to the upside.

“In fact, if we look at the historical situations where the lines are together, that would be here at the end of 2020; that’s when the bull market began. The end of the bull market, the FOMO (fear of missing out) phase. Same [thing] in the beginning of 2017, the lines were together. So [arithmetic mean] and geometric mean together could mean the bull market is about to start.”

Bitcoin is trading for $80,641 at time of writing, up nearly 2% on the day.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Technical Indicator Suggesting Bitcoin (BTC) Bull Market Hasn’t Started Yet: Quant Analyst PlanB appeared first on The Daily Hodl.