Hi! In this analysis, I present the arguments to show what many renowned traders already claim: Bitcoin is only at the beginning of an uptrend.
Why do we have a strong uptrend? In the red lines of the Bitcoin graph, we have the historical tops. Below, I configured the CGO (Center of Gravity Oscillator) with a period of 200 days, using a Fibonnaci retraction that goes from 100 to -0.382.
In this indicator, we can see that we still have a lot of room to rise.
Why haven't we made it to the top yet? We have a very interesting indicator developed by David Puell called "The Puell Multiple". Basically in a nutshell, it identifies when miners are taking an abrupt and very unusual profit taking. When we have a peak on this indicator above the red dotted line, we clearly have a top. In the marked rectangles we can consider a possible exit point.
In the fall we had a few months ago, we can see that it didn't happen, so we still have a new top to discover.