Bitcoin Boom: Historically Accurate BTC Signal Flashes

There is an important Bitcoin bullish signal that is flashing and this shows that we can expect a massive price boom. At the moment of writing this article, BTC is trading in the red and the king coin is priced at $39.049.

According to the latest reports coming from the online publication the Daily Hodl, the popular crypto analyst Nicholas Merten is looking at one price model that suggests Bitcoin (BTC) is oversold and ready for a sizeable rally.

In a new video, he explained that he has his eye on the Mayer Multiple – this is an oscillator that uses several ratios between price and the 200-day moving average.

“The oscillator is often viewed as one of the more critical moving averages amongst high-timeframe traders.”

Merten said that the Mayer Multiple is currently strong, suggesting that BTC is due for upward price action.

“When we’re below the green line, that’s usually a time or an indicator that price is oversold and that it’s a time to get bullish on Bitcoin.”

He continued and said this:

“Not only due to the fact that price not only tends to trend higher afterward in the short term but really over the next foreseeing months, it’s likely that after it dips below the green zone after it is set to go up towards the pink band where generally markets are overbought and it might be time to start looking to take profits or chips off the table so to speak.”

An important crypto analyst was recently searching for clues as to why Bitcoin (BTC) suddenly broke to the upside – this was after weeks of price action that had been sideways at best.

In a new strategy session, the host of financial education YouTube channel InvestAnswers talked about some potential scenarios which included geopolitical and technical.

Stay tuned for more juicy crypto news.