Precision top escape bottom fishing artifact? Bitcoin MVRV indicator appears again, currently scoring 79.

Bitget App

Trade smarter

CryptoChan2024/11/25 07:15

By:CryptoChan

Well-known on-chain analyst CryptoChan's latest analysis shows that the Bitcoin MVRV indicator accurately fits the formula to capture the bull and bear tops in historical cycles, and is known as the "artifact for bottom fishing". The indicator divides market sentiment into six major intervals (from fear to greed) and provides oscillation scores from 0 to 100.

0 points: extreme bear market bottom, usually represents the market bottom fishing opportunity; 100 points: extreme bull market peak, often indicates the market correction risk

Current data shows that the MVRV indicator score has reached 79, which is already in the "excitement" zone. As this score approaches the historical "greed" zone, the market may usher in a red flag of volatility turning point.

CryptoChan reminds: Although historical data has reference value, there are still variables in the future market. Make rational decisions and act within your means!

Precision top escape bottom fishing artifact? Bitcoin MVRV indicator appears again, currently scoring 79. image 0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.