Hey Hivers and Leo Heads!
Today twitter user @cryptokea posted a beautiful chart of the Mayer Multiple Price Bands.
The Mayer Price bands show critical support and resistance zones.
Looking at this chart from a historical perspective it gives us great insights into the future direction of BTC.
From his latest post update, you can see exactly from 2012, 2016, and to the present in 2020 where BTC is currently at in this entire landscape.
Based on his great band ranges, we can see BTC is currently at the bullish zone in the yellow band which represents the prime buying spot before the next major leg up.
This shows us that 10K might very well be the bottom. While we could wick to the 9k region, we shouldn't be expecting much lower down and perhaps nothing at all!
@originate Hive Developer Evangelist & Market Analyst