BTC Logarithmic Regression (Weekly)

8 Jun 2021

The chart is self-explanatory. Every time BTC reaches the red area on the logarithmic regression chart it’s bear market time. Is it going to happen again? I’m not 100% certain, but if history rhymes, then say good bye to the bull market and say hi to the bear market. After looking at this regression chart, If you’re a long term investor, then you may want to keep an eye on the monthly RSI for a reversal pattern. I honestly don’t see any sign of a reversal pattern on the monthly RSI nor on the weekly RSI. RSI indicator is not shown in this post, but I may post a chart with RSI indicator as well to further explain why we may be going down.