All indicators in favor of market to $79,999.9

8 Agu

Today, all indicators are signaling a strong bullish pattern. I expect this positivity to continue until 79,999.9k.

Reasons behind this positive outlook:

1. RSI Level: On the weekly chart (a powerful timeframe), the RSI is at a neutral level, with no overbought signals.
   
2. Puell Multiple: We are near the bottom of the Puell Multiple. The bottom is typically reached during bear markets. I don't expect this indicator to decline further, as we are in a bull market.
   
3. Greed and Fear Index: Yesterday, we reached the extreme fear level. In bear markets, extreme levels are below 10, but since we are in a bull market, a fear index of 17 is already very low.