DO WE GET ANOTHER DOT?
All I can say is that if we get the opportunity to buy the dot that would be crazy.
The dot appeared 4 times in the history of BTC. Every time it was a sign that THE BOTTOM of a large recession is near.
Now it is very likely that we won't be able to buy the dot. Why?
Well, they only appeared at the bottom of the big cycles.
Historically, once we get our dot we will see a new all-time high without getting another dot.
What has to happen for the dot to appear?
For the dot to appear we would need to fall approximately to the green box/line, which would be around $5000. So another 2k lower from today.
I could see a rise to the orange band at around 10k followed by another big drop.
All in all, it is very unlikely that we will get another dot yet not impossible and if we get it I buy it.
HOW DOES THE DOT WORK?
The dot is based on an improved version of the RSI which changes its input length based on volatility.
THE DAILY TIMEFRAME
On the daily timeframe, we would also need a little more downside movement to get another dot.
ON-CHAIN DATA
If we take a look at the confirmed miner capitulation period, we can see that the miner capitulation already started when the gray X appeared.
Right now we are waiting for the first instance of positive momentum following the recovery of the Hash Rate which is another highly rewarding buy signal.
So if we can't get the dot we should be getting the miner capitulation as a good signal.
All I can say is that if we get the opportunity to buy the dot that would be crazy.
The dot appeared 4 times in the history of BTC. Every time it was a sign that THE BOTTOM of a large recession is near.
Now it is very likely that we won't be able to buy the dot. Why?
Well, they only appeared at the bottom of the big cycles.
Historically, once we get our dot we will see a new all-time high without getting another dot.
What has to happen for the dot to appear?
For the dot to appear we would need to fall approximately to the green box/line, which would be around $5000. So another 2k lower from today.
I could see a rise to the orange band at around 10k followed by another big drop.
All in all, it is very unlikely that we will get another dot yet not impossible and if we get it I buy it.
HOW DOES THE DOT WORK?
The dot is based on an improved version of the RSI which changes its input length based on volatility.
THE DAILY TIMEFRAME
On the daily timeframe, we would also need a little more downside movement to get another dot.
ON-CHAIN DATA
If we take a look at the confirmed miner capitulation period, we can see that the miner capitulation already started when the gray X appeared.
Right now we are waiting for the first instance of positive momentum following the recovery of the Hash Rate which is another highly rewarding buy signal.
So if we can't get the dot we should be getting the miner capitulation as a good signal.
