Bitcoin Weekly RSI & MA200 (It Will Be Different This Time)
Updated
We are going to be looking at something very simple today, so please, allow us a few minutes of your time for entertainment.
(1) MA200 has always marked the bottom (this time it will be different).
(2) Looking back at Bitcoin since 2015, MA200 being tested as support always leads to a recovery...
(3) This is also the first time that Bitcoin closes below MA200 weekly and that is why this time it will be different.
We will start with a bounce that can lead to around $29,000 to $37,000 or more.
After this bounce a bearish wave is very likely to take us to a new low ending around November 2022.
This will mark the market bottom and we grow from this point foward as it happened back in Jan. 2015 and Dec. 2018.
Bitcoin's weekly RSI is also very telling, it gives it all away.
First, we have a long-term hidden bullish divergence.
We have lower lows on the RSI while we have higher lows on BTCUSD.
The initial low was hit around January 2015 and this led to a strong bull market.
About 4 years later we get another low in December 2018, this also led to a very strong bull market (higher highs and higher lows).
The next low was hit last month, June.
But our calculations are saying that there will be another low, the final one, reaching November 2022.
After this low is hit we will have sustained long-term growth.
But, we were actually talking about a price bounce and this is due to happen now.
Bitcoin will grow.
If you find this content useful or entertaining, feel free to like to show your support.
Thank you for reading.
Namaste.
(1) MA200 has always marked the bottom (this time it will be different).
(2) Looking back at Bitcoin since 2015, MA200 being tested as support always leads to a recovery...
(3) This is also the first time that Bitcoin closes below MA200 weekly and that is why this time it will be different.
We will start with a bounce that can lead to around $29,000 to $37,000 or more.
After this bounce a bearish wave is very likely to take us to a new low ending around November 2022.
This will mark the market bottom and we grow from this point foward as it happened back in Jan. 2015 and Dec. 2018.
Bitcoin's weekly RSI is also very telling, it gives it all away.
First, we have a long-term hidden bullish divergence.
We have lower lows on the RSI while we have higher lows on BTCUSD.
The initial low was hit around January 2015 and this led to a strong bull market.
About 4 years later we get another low in December 2018, this also led to a very strong bull market (higher highs and higher lows).
The next low was hit last month, June.
But our calculations are saying that there will be another low, the final one, reaching November 2022.
After this low is hit we will have sustained long-term growth.
But, we were actually talking about a price bounce and this is due to happen now.
Bitcoin will grow.
If you find this content useful or entertaining, feel free to like to show your support.
Thank you for reading.
Namaste.
Note
Looks like 11K is still the main target...
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