Bitcoin Bulls See Déjà Vu as Rare Bullish Divergence Reappears
Crypto analyst Ali Martinez believes Bitcoin may have already formed its market bottom after a bullish divergence reappeared between BTC's price and Net Capital Flows.
According to Martinez, the last time the same divergence emerged, it marked the cycle bottom before the crypto asset rallied from around $15,000 to eventually reach $126,000.
The SuperTrend indicator has also flashed a buy signal, and Doctor Profit has repeatedly expressed a similar view on Bitcoin's current price range.
However, not everyone believes Bitcoin has found its bottom. CryptoQuant's Julio Moreno stated that it is still too early to make that call, citing the Estimated Leverage Ratio (ELR) on Binance as evidence of high leverage in the market.