Markets remain neutral to bearish bias on higher timeframes.
In previous bear markets it took BTC around 11 months (330 days) to find a floor, once RSI bottomed. We are around 270 days currently. 330 days will land in Jan '23, but given the macro I would expect a longer bear market than in the past.
Now saying this has a bearish to neutral bias.. note that it is a monthly chart and monitoring higher timeframes. On lower timeframes, say weekly.. we probably have a shot at one more swing low and a -potential- midrange rally into the year end or Q1.
Depends on the upcoming FOMC and ECB actions into the years end.
In previous bear markets it took BTC around 11 months (330 days) to find a floor, once RSI bottomed. We are around 270 days currently. 330 days will land in Jan '23, but given the macro I would expect a longer bear market than in the past.
Now saying this has a bearish to neutral bias.. note that it is a monthly chart and monitoring higher timeframes. On lower timeframes, say weekly.. we probably have a shot at one more swing low and a -potential- midrange rally into the year end or Q1.
Depends on the upcoming FOMC and ECB actions into the years end.