Bitcoin and the Mayer Multiple - Keeping it simple
Good morning my fellow Bitcoinistas!
Today I want to take a quick look at something called the "Mayer Multiple". It is simply a multiple of the 200 day moving average. This guy named Mayer noticed that when Bitcoin was under 2.4 of the multiple Bitcoin was a good buy. Well, we are currently at 1.18
On my chart the purple average is a study I made that is 1.1 of the 200 daily moving average. The orange line is the 200 daily moving average. The dotted blue line is my long term FIB channel trend line.
As you can see, we are currently in a very sweet buying opportunity. Also, not on this chart, the price is currently pinning through the 20 week moving average which is also a historical buying opportunity.
The bottom line? I believe that anywhere from the current price right now all the way down $9K is a tremendous opportunity for HODLers. If we spike down to the 200 daily MA around $8.5K even better. Are much lower prices guaranteed? Nope. You take what you can get. I don't expect the price to go much lower than about $9.3K (around blue dotted line) but even that is not a guarantee.
If you are a day trader, swing trader, etc. do whatever you do best. But if you are a long term Holder I think now is a good time to start averaging in to a new long position if you don't already have one or add to an existing position if you do. Not advice, that's just what I've been doing.
Good luck!
BBS out.
P.S. More info on the Mayer Multiple "https://mayermultiple.info/"
Today I want to take a quick look at something called the "Mayer Multiple". It is simply a multiple of the 200 day moving average. This guy named Mayer noticed that when Bitcoin was under 2.4 of the multiple Bitcoin was a good buy. Well, we are currently at 1.18
On my chart the purple average is a study I made that is 1.1 of the 200 daily moving average. The orange line is the 200 daily moving average. The dotted blue line is my long term FIB channel trend line.
As you can see, we are currently in a very sweet buying opportunity. Also, not on this chart, the price is currently pinning through the 20 week moving average which is also a historical buying opportunity.
The bottom line? I believe that anywhere from the current price right now all the way down $9K is a tremendous opportunity for HODLers. If we spike down to the 200 daily MA around $8.5K even better. Are much lower prices guaranteed? Nope. You take what you can get. I don't expect the price to go much lower than about $9.3K (around blue dotted line) but even that is not a guarantee.
If you are a day trader, swing trader, etc. do whatever you do best. But if you are a long term Holder I think now is a good time to start averaging in to a new long position if you don't already have one or add to an existing position if you do. Not advice, that's just what I've been doing.
Good luck!
BBS out.
P.S. More info on the Mayer Multiple "https://mayermultiple.info/"
Comment:
A quote from the site at $8650
"The Mayer Multiple has historically been higher than today's value 60.6% of the time."
Pretty good odds IMO.
"The Mayer Multiple has historically been higher than today's value 60.6% of the time."
Pretty good odds IMO.
Trade closed: target reached
What are you waiting for? A personal invitation? Don't cry later with your woulda, coulda, shoulda bought some in the $8Ks bullshit when we get back over $10K soon.