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Saturday, January 7, 2023

Why I believe the Crypto & $BTC market bottom is in!

Why I believe the Crypto & $BTC market bottom is in!

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Reasons why Bottom is in!

Using our 2day Candle system both Ethereum and Bitcoin passes the buy rules, it has a 75% success rate of correct calls!

Previous cycles have shown bottom was found 17-18 months before Bitcoin halving, December 2022 marked 18 months!

On the weekly the Stoch RSI currently in an uptrend and with a Higher high printing. The MACD Bullish too. Using the weekly candles, the 2017 top to 2018 bottom was 52 Weeks, The 2021 Top to current 2022 bottom is 52 Weeks.

The 12 day candle has the MACD UPtrending for 5 bars. When this happens it usually signals we passed bottomed.

Using the 2 week Gaussian Channel in 2015 the channel turned red, by that time the market had already found the bottom. The only other time it went red is this week, Bottom in?

In January 2019 The Money Flow Indicator ( MFI ) on the monthly printed oversold while the stochastic RSI HAD 11 months oversold. In January 2023 again MFI oversold and Stochastic RSI has 12 months Oversold.

There is also bullish divergence .

In my mind I rather be in Bitcoin or cryptocurrency as in my opinion the bottom is in unless something left field occurs.

Via TradingView Ideas

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