So after this big dip it sound more easy to look from far on the Monthly Chart. it can show use clearly that we are still in this bear Market for a long time. Only a good catalyst would make BTC back in power mode. First support would be a strong bounce on EMA at 4000ish. Second Supoort 3200-3000. FOMO rebuy. And the last one 1200-1500. Back to 2014 ATH. Happy...
With most bear cycle models showing that Bitcoin is approaching a bottom, it is useful to go back to its original growth pattern. The parabolic curve that has delivered High after High over this decade long time span. Based on that parabolic pattern we have identified 4 possible growth scenarios leading to the next All Time High using duration and % increase...
Basic RSI analysis market cycles
Indicators: Fibonacci retracement with extensions (downtrend 2013 - 2015) Volume profile fixed range Moving average 200 MA (red line) : a weekly candle never has had a close below the 200MA Pattern: Descending triangle 2018 (measure rule): TP $2950 The eyes represent the most relevant levels.
The channel's middle line (50%) has turned into resistance.
On June 11th we have entered a bear market. The decline and consolidation will now take much longer than expected. After Coinbase, 4 major other exchanges are being subpoenaed and investigated by request from CME for possible wash trading and market manipulations. This is probably the reason why we didn't go back up on monday after weekend to sync with the...