Trader Spots Bitcoin Flashing Signal That Precedes Bear Markets, Updates Outlook on One Ethereum Competitor

Cryptocurrency analyst and trader Ali Martinez says that one indicator is signaling a bearish outlook for Bitcoin (BTC).

Martinez tells his 153,900 followers on X that the Chande Momentum Oscillator (CMO), an indicator used in technical analysis to measure the strength of a trend, dipped last month to a level that is typically associated with a bear market.

“Bitcoin CMO above 20 has signaled bull markets, and below 20 has marked bear markets.

August’s close just pushed it back below 20.”

Source: Ali Martinez/X

Bitcoin is trading at $110,911 at time of writing.

The analyst further says that the market value to realized value (MVRV) pricing bands of Bitcoin, which are used to identify potential resistance and support levels, are signaling that the crypto king could drop drastically if it fails to climb above a key price area.

“MVRV Pricing Bands show that as long as...

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