The value days destroyed multiple is hinting at an incoming BTC price macro top, but all might not be as it seems.Bitcoin has so far failed to flip either new all-time highs or its previous peak from 2021 to firm support.Uploading fresh VDD multiple data to X this week, TXMC revealed that the chart had printed highs seen only shortly before BTC/USD puts in macro tops.
This year nonetheless includes a key difference from early 2021. During the VDD multiple’s last spike, BTC/USD had already doubled its prior all-time high of $20,000. “We are printing the same value in 2024 while still AT the prior all-time high,” TXMC added, concluding that the overall picture was “uncertain.”Among them are classic pointers such as the relative strength index , which recently saw a “reset” to levels that last appeared in late January.— still far below the traditional “overbought” zone, which begins at 70 and tends to accompany the steepest portion of BTC price cycle gains.
Popular trader Alan Tardigrade reiterated promising signals on 4-hour RSI timeframes in the form of a hidden bullish divergence with price. "Hidden bullish divergence happens here while $BTC makes a higher low , but RSI is showing a lower low . This signals the possible uptrend continuation," heMonthly timeframes continue to hold above 70, a feature on the radar of controversial analyst Plan B and others in advance of Bitcoin’s incomingThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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