Bitcoin Mayer Multiple hits lows that last accompanied $30K BTC price

Bitcoin price is increasingly low versus its 200-day moving average — a key "buy the dip" signal, per the classic BTC price indicator. on June 27, popular analyst On-Chain College said that classic patterns were repeating on the Bitcoin Mayer Multiple., the Crypto Fear & Greed Index is challenging 2024 lows, and across social media, there are few signs that the average hodler expects a price turnaround.

Conversely, for the Mayer Multiple to hit the 2.4 level, the price would need to be nearly $140,000. BTC/USD last achieved a 2.4 reading in March 2021. “The Bitcoin Mayer Multiple is now at a level not seen since October 2023, despite price at $60.9K now vs. $29.9K back in October,” On-Chain College wrote in part of accompanying commentary.Trader on overbought Bitcoin:"History repeating?"

As Cointelegraph continues to report, price strength is a popular topic of debate this month, as the Mayer Multiple is not the only “buy” signal currently valid.“The last time the RSI was this low, Bitcoin had just consolidated for 3+ months, just below the key resistance @ 30k,” popular trader Jelle wrote in part of hisBTC/USD 1-day chart with RSI data. Source: TradingView

This 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.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Michael Saylor Reacts as Bitcoin (BTC) Breaks Above $71,000Vocal Bitcoin proponent Saylor makes BTC prediction as Bitcoin surpasses $71,000 price mark
Source: Utoday_en - 🏆 295. / 63 Read more »

Michael Saylor Celebrates Important Bitcoin Anniversary: DetailsVocal Bitcoin proponent Saylor has published celebratory Bitcoin tweet to recall his personal BTC anniversary
Source: Utoday_en - 🏆 295. / 63 Read more »

BTC price settles at $69K after dip wipes $1.3B Bitcoin open interestBitcoin returns to the key $69,000 level with BTC price and Ether price action consolidating losses.
Source: Cointelegraph - 🏆 562. / 51 Read more »

German government’s Bitcoin sale sends BTC price lower after MicroStrategy almost triggers rallyMicroStrategy acquired an additional 11,931 BTC on Thursday, bringing its entire holdings to 226,331 BTC.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Bitcoin price drop below traders’ cost basis warns of deeper sell-offBitcoin on-chain data suggests that BTC price has a bit further to fall.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin taps $62K as 6% BTC price rebound runs into stubborn US dollarBitcoin bulls aim to take ask liquidity toward $65,000 with BTC price strength cautiously returning.
Source: Cointelegraph - 🏆 562. / 51 Read more »