Crypto expert, PlanB, suggests that a Bitcoin bull market may be forming based on the convergence of two key 200-week means.
The convergence of the 200-week arithmetic and 200-week geometric means on Bitcoin's price chart is a rare occurrence and has historically preceded significant price rallies.
PlanB references previous instances, such as in 2020 and 2017, where the convergence of these means was followed by major upward price movements.
The analyst also notes that significant crashes or bear markets have occurred when the arithmetic and geometric means diverged, further supporting the potential for a bull market.