Analytical method: Puell Multiple
Calculate the overbought and oversold levels through the miners' income.
Green Zone Bullish: Less income so less selling pressure expected.
Red Zone Bearish: Higher income so expect more selling pressure.
Puell Multiple - Lower timeframe
Currently, the broader economic environment is still unstable, bitcoin is susceptible to news or U.S. stocks dragged down the miners to reduce the income again, so the data can be short-term at any time to fall back to the optimal buying range.The best way to be sure that a move out of the oversold range means that the price has moved out of the bottom range is to check the trend with other data in the chain and with a Higher Timeframe.