The indicator show the amount of deviation from the yearly average price.
As can be seen, the March to April 2021 highs deviated extremely from the yearly average.
Bitcoin's price tends to swing from being above the yearly average to below it. IF Bitcoin was to now drop to a similar deviation below that would be extremely severe. Personally I think it's more likely that the swing is similar to the LAST swing up in Nov 2021.
This opposit swing can also be seen on the chart and shows that Bitcoin has already pretty much moved the same distance below the yearly average as it did when it moved above in in Nov 2021.
Could this mean the dump is nearly over?....
As can be seen, the March to April 2021 highs deviated extremely from the yearly average.
Bitcoin's price tends to swing from being above the yearly average to below it. IF Bitcoin was to now drop to a similar deviation below that would be extremely severe. Personally I think it's more likely that the swing is similar to the LAST swing up in Nov 2021.
This opposit swing can also be seen on the chart and shows that Bitcoin has already pretty much moved the same distance below the yearly average as it did when it moved above in in Nov 2021.
Could this mean the dump is nearly over?....