BITCOIN is far from the bottom and this is why.
TradingShot
مشخصات معامله
نوع معامله:
فروش
قیمت در زمان انتشار:
۷۵,۸۶۱.۴۲
توضیحات
Bitcoin (BTCUSD) stopped its 6-month bearish streak in March and this month is staging an impressive rally (along with stocks). Still this isn't something that diverges from the typical Bear Cycle behavior. Even if April closes in green too, it won't be the first time BTC had two straight green months during a Bear Cycle. We've seen that two times before, May - June 2014 and February - March 2022.
So we are still within standard Bear Cycle borders and the 1M RSI and 1M LMACD come to confirm this. Those are historically the most stable indicators on Bitcoin Cycles. As you can see, BTC has historically bottomed when the 1M RSI hit the 15-year Lower Lows trend-line Support (green circles). The current rally is taking place much higher than that, so the Bear Cycle hasn't bottomed.
Also, the 1M LMACD is still high, with no signs of making a Bullish Cross, even though its April histogram bar turned light red. This has still time to change before the monthly closing but even if it stays that way it will not be the first time to have a light red bar before the Cycle bottom (happened in October 2022).
In addition, since the January 2015 bottom, every Bear Cycle bottom was priced 1430 days (47 weeks) after the previous one. If that holds again, the Cycle won't bottom before October 2026. On top of that, the price is hovering just above the 1M MA50 (blue trend-line), which broke during the last Bear Cycle, with BTC bottoming on the 1W MA350 (orange trend-line). Technically this time it can go even as low as the 1M MA100 (red trend-line), so the two give us a $50000 - 40000 estimated Bottom (Buy) Zone.
So do you think the Cycle has bottomed or not? Feel free to let us know in the comments section below!
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So we are still within standard Bear Cycle borders and the 1M RSI and 1M LMACD come to confirm this. Those are historically the most stable indicators on Bitcoin Cycles. As you can see, BTC has historically bottomed when the 1M RSI hit the 15-year Lower Lows trend-line Support (green circles). The current rally is taking place much higher than that, so the Bear Cycle hasn't bottomed.
Also, the 1M LMACD is still high, with no signs of making a Bullish Cross, even though its April histogram bar turned light red. This has still time to change before the monthly closing but even if it stays that way it will not be the first time to have a light red bar before the Cycle bottom (happened in October 2022).
In addition, since the January 2015 bottom, every Bear Cycle bottom was priced 1430 days (47 weeks) after the previous one. If that holds again, the Cycle won't bottom before October 2026. On top of that, the price is hovering just above the 1M MA50 (blue trend-line), which broke during the last Bear Cycle, with BTC bottoming on the 1W MA350 (orange trend-line). Technically this time it can go even as low as the 1M MA100 (red trend-line), so the two give us a $50000 - 40000 estimated Bottom (Buy) Zone.
So do you think the Cycle has bottomed or not? Feel free to let us know in the comments section below!
---
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
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