Investor Tool
Bitcoin
The Investor Tool plots the two-year moving average alongside that same average multiplied by five, bracketing price between a floor and a ceiling.
Why it matters
It reduces cycle position to one question with a plain answer: is price under the two-year average, above five times it, or somewhere in between.
How it is built
The 730-day moving average of price, and the same series multiplied by five.
What to watch
The months spent beneath the two-year average have been few and have coincided with cycle lows, while the months above five times it have coincided with tops — but the band is wide, and most of any cycle is spent inside it saying nothing.