Descending Triangle Analysis & RSI Analysis on BTC Weekly Chart
Descending Triangle Analysis for previous Bear markets periods.
Descending triangle shows 2 zones, the 1st drop reaching the 1st target down, and then the final drop (capitulation) reaching the final target of 50% from the drop from descending triangle break down.
RSI on BTC Weekly Chart BTCUSD. Purple line shows the start of the prolonged Bear Market and the exact moment when Descending triangle broke down, this indication or analysis tells us that BTCUSD has not yet reach the RSI level to consider the end of this 2018 Bear Market.
Real Bear Market starts when the descending triangle breaks down (same as the break down of the Purple line on RSI Graph)
Descending triangle shows 2 zones, the 1st drop reaching the 1st target down, and then the final drop (capitulation) reaching the final target of 50% from the drop from descending triangle break down.
RSI on BTC Weekly Chart BTCUSD. Purple line shows the start of the prolonged Bear Market and the exact moment when Descending triangle broke down, this indication or analysis tells us that BTCUSD has not yet reach the RSI level to consider the end of this 2018 Bear Market.
Real Bear Market starts when the descending triangle breaks down (same as the break down of the Purple line on RSI Graph)