The Puell Multiple Is Turning Bullish on Bitcoin
You might not have heard of the Puell Multiple but right now it appears to show bitcoin is undervalued.
A death cross occurs when the 50-day moving average crosses below the 200-day moving average.
BTC will need to remain above $30,000 to avoid entering bear market territory.
BTC buyers struggled near $40K resistance this week. Upside appears to be limited.
Some analysts expect limited upside in bitcoin despite the possibility of a brief bounce.
Bitcoin could be in for a long, cool spring of modest new all-time highs followed by sudden dips.