Using Ichimoku & RCI on a macro chart, looks like BTC is at a major turning point which aligns with the upcoming halving.
Previous halving dates and turning points labeled on the chart.
If the pattern plays out like it did in previous cycles, and considering the monthly long RCI line has just begun pointing up again, we should see consolidation the next month or two before a breakout to ~$11.8k-14k area again in anticipation of the halving in May 2020.. Followed by a slow move down from there into Fall 2020 and a very bullish winter / 2021-2022.
"The Rank Correlation Index (RCI) uses a combination of price change data and time change data to identify potential changes in market sentiment, thereby exposing turning points."
Previous halving dates and turning points labeled on the chart.
If the pattern plays out like it did in previous cycles, and considering the monthly long RCI line has just begun pointing up again, we should see consolidation the next month or two before a breakout to ~$11.8k-14k area again in anticipation of the halving in May 2020.. Followed by a slow move down from there into Fall 2020 and a very bullish winter / 2021-2022.
"The Rank Correlation Index (RCI) uses a combination of price change data and time change data to identify potential changes in market sentiment, thereby exposing turning points."