BITCOIN HASN'T BEEN THIS OVERSOLD SINCE THE NOV 21 BOTTOM

The charts above analyze Bitcoin on a long and short-term basis.

SHORT-TERM

• Shown above, Bitcoin's 4-Hour Awesome Oscillator hasn't been this oversold since the $15,500 bottom on November 21st, 2022.
  
• Today, February 9th, 2023, Bitcoin caused over $24 million in Long Liquidations in 1 hour. This is the highest 1H long liquidation level since early November '22. (Source).
  
• In total, Bitcoin's price action through February 9th, 2023 caused over $277 Million in Long Liquidations. (Source).
  
• Altcoin Season is in an upward-sloping trend (Source). This is typical of Bitcoin bull markets.
  
• Fear and Greed Index (Source) is showing 55, entering 'Greed'. Accordingly, there is still ample room for upside.
  

Bitcoin looks BULLISH in the short term. I believe the recent price action is a fake-out and the smart money is buying now. I am positioned LONG!

LONG-TERM
Bitcoin's current price action appears precisely similar to its price action in 2015. This similarity is especially apparent when Bitcoin's Power Law Growth Curve is applied. During Bitcoin's first cycle, its price bottomed at $162/BTC on August 18th, 2015. After this bottom, Bitcoin increased +12,000% to $19,900/BTC on December 16th, 2017. Judging by Bitcoin's prior cyclical price action, it appears the asset is beginning its next long-term hype cycle. If Bitcoin continues to follow its 2015-2017 price action exactly, this would take the price to over $500k by 2025!