Bitcoin Seller-Exhaustion Index Posts Second-Lowest Cycle Reading

Bitcoin (BTC) recorded the second-lowest level of its current cycle on a seller-exhaustion index during a pullback to $77,000 several days ago, market analyst Murphy said, describing it as a second signal after one in August. The index combines low volatility with high losses. Murphy said readings in its “extreme exhaustion” zone have appeared around cycle bottoms and become harder to repeat after a bottom structure forms. Murphy said the latest reading was the cycle’s second-lowest; a prior signal occurred Aug. 11. Murphy characterized a second-low reading as a more certain signal than identifying the cycle’s absolute low, while noting that it may occur at a higher Bitcoin price. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.