The strongest evidence that bulls are gaining momentum
So here we have The CM ultimate Moving average MFA on the 2 week time frame with the PI Cycle Bottom. On the bottom we have the Stochastic RSI. Combining these three indicators is showing a very powerful case for the bottom being in and that we will in the next few weeks flip bullish. The interactions of these indicators go back all the way to 2011.
The PI cycle bottom is has been modified to only on show the short MA and the color has been changed to orange while the long MA has been deleted to keep the chart clean as it's not useful in this chart.
As we can see here for the entire bitcoin history, when ever the PI SHORT MA has crossed into the ULTIMATE MA it sparked the beginning of the downfall and the ULTIMATE MA only weeks later turned red and prices would start to plummet. The bear market on every occasion has ended when the PI SHORT MA crosses back up through the ULTIMATE MA and shortly after would confirm the bull market by turning Green again. We also have the stochastic backing all this movement by showing the rise in momentum.
This indicator is so good it even caught the COVID crash of 2020 and warned that trouble was brewing weeks in advance.
So... where are we now on the timeline? It's showing that not only is the bottom in most likely but the the bull market could be only weeks away as the stochastics have made a cross up and momentum is building. also the PI SHORT has stopped it's downward momentum and is preparing for it's eventual cross up of the ULTIMATE MA.
The only question left is, where do you stand? Have you bought the dip or are you waiting for lower prices?
My evaluation from this analysis is that we are at least half way through the bear the market.
Please feel free to ask questions or add any comments below
Thanks for your looking and please hit the like.
*Chart analysis is risk management... There is always risk, hence the reward*
The PI cycle bottom is has been modified to only on show the short MA and the color has been changed to orange while the long MA has been deleted to keep the chart clean as it's not useful in this chart.
As we can see here for the entire bitcoin history, when ever the PI SHORT MA has crossed into the ULTIMATE MA it sparked the beginning of the downfall and the ULTIMATE MA only weeks later turned red and prices would start to plummet. The bear market on every occasion has ended when the PI SHORT MA crosses back up through the ULTIMATE MA and shortly after would confirm the bull market by turning Green again. We also have the stochastic backing all this movement by showing the rise in momentum.
This indicator is so good it even caught the COVID crash of 2020 and warned that trouble was brewing weeks in advance.
So... where are we now on the timeline? It's showing that not only is the bottom in most likely but the the bull market could be only weeks away as the stochastics have made a cross up and momentum is building. also the PI SHORT has stopped it's downward momentum and is preparing for it's eventual cross up of the ULTIMATE MA.
The only question left is, where do you stand? Have you bought the dip or are you waiting for lower prices?
My evaluation from this analysis is that we are at least half way through the bear the market.
Please feel free to ask questions or add any comments below
Thanks for your looking and please hit the like.
*Chart analysis is risk management... There is always risk, hence the reward*
Trade active:
Making a new low is of concern, Proceed with caution.
Comment:
It took a while (2 month delay) but the bulls are gaining momentum. Now, this doesn't mean moon next week. If anything the indicators are showing a fairly strong correction coming.
Comment:
It's all just history now.
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