Puell Multiple indicator just flashed a buy signal this week, this is my favourite version of this amazing indicator, historically had been always right flashing sell signals at tops and we didn't have any one yet since the end of the bull market 2017, we also flashed a few buy signals, not many in history and also have been really accurate till now, with a maximum of 9 weeks continuation of a downtrend before the real bull market commenced in one of the signals, so are we about to commence our real new supper cycle and hit over $150,000 by the end of the year? lets see if this time is right, I am so sorry about this idea, I couldn't fit all in the screen and candles are small also, so you would need to roll back left till 2011 to be able to see the full idea, I hope you enjoy my idea and open your mind.
Just a bit about this indicator:
The Puell Multiple examines the fundamentals of mining profitability and the way they shape market cycles. It is calculated by taking a ratio of daily coin issuance (in USD) and the 365 moving average of daily coin issuance (in USD).
some sources said this may have flashed due to miners in china have put machines off to move to other countries, so this time could not be as accurate as other times, lets see what it plays out!