Methods of analysis
Piller's multiplier: Below 1 reflects that miners' profit growth is insufficient; above 1 reflects that miners still have profit growth momentum and are motivated to expand investment in mining.
Miners' capitulation: Relatively high data reflecting increased mining difficulty due to higher miner numbers; relatively low data reflecting more miners capitulating on cost-recovery.
Current Phenomena
Pink zones represent bottoms that have occurred in bear markets in the past.
A strategy with a higher win rate is to analyze long-term investors and miners. If even they start to lose money, or never sell and go back to cost, it means the market has a good chance of bottoming out or getting close to the bottom from a long-term perspective.
The law of the market always repeats itself... When the price drops to the point where even OG can't make a profit, that's the signal that you can get in.
In the short term, your cost is not much different from that of the miners and the long-term investors, so it is all champerty to die.