Bitcoin
Panjang

How did bitcoin react on the past 3 bear cycles after bullishDIV

431
we have started some bullish momentum to start the new year! (on the weekly, so this will take some time to play out)

Comparing the 2014-15, 2018-19 cycle with the 2022 bear cycle

Measured 427 days (this week)
the previous 2 drops have had a retracement of 85%, and we are currently only at 76%. An 85% drop would take BTC to around $10 000.

previously, the 50 ma did not cross the 200 - however unless bitcoin makes a serious gain in the near future we are probably looking at a death cross which has never happened before.

The RSI similarities
downward trendline has been broken
there is upward momentum

The Vumanchu indicator is also showing some bullish divergence currently

So I am bullish for 2023
There will be ups and downs!
A possible rally now, or a drop probably relating to macro factors (fomc/inflation/stock market)
But a likely drop to lower levels by May/June-ish



Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.