Monthly cloud could mean impending DOOM for BTC on HTFs
Yes, i said monthly cloud. I've managed to layer the monthly and weekly clouds on the same chart on the daily time frame. This allows me to see the larger time-frame clouds with daily resolution accuracy.
Price is currently on a collision course with the weekly cloud leading up to Christmas. All signs currently point to this being unavoidable at this point.
However, what I've now discovered is that unless we see significant upside between now and late January, we are going to drift under the Monthly cloud in addition to the weekly for the first time in Bitcoin's history. Once we are below the weekly, it will be extremely hard to avoid going below the monthly.
Going below the monthly is quite literally uncharted territory.
The weekly cloud bottom is ~8500 for a very long time, till next July at the earliest.
The monthly cloud bottom is ~10000 until Dec 2020.
- If bulls have ANYTHING left in the tank, they would need to pump over 10k before going under the weekly.
- If we go below both of these, it's going to be another year long bear market minimum.
Price is currently on a collision course with the weekly cloud leading up to Christmas. All signs currently point to this being unavoidable at this point.
However, what I've now discovered is that unless we see significant upside between now and late January, we are going to drift under the Monthly cloud in addition to the weekly for the first time in Bitcoin's history. Once we are below the weekly, it will be extremely hard to avoid going below the monthly.
Going below the monthly is quite literally uncharted territory.
The weekly cloud bottom is ~8500 for a very long time, till next July at the earliest.
The monthly cloud bottom is ~10000 until Dec 2020.
- If bulls have ANYTHING left in the tank, they would need to pump over 10k before going under the weekly.
- If we go below both of these, it's going to be another year long bear market minimum.
