🔥 A Collection Of Analyses Why Bears Are WRONG On This Move
Updated
Over the past weeks I've made several bullish longer term analyses on Bitcoin and the markets in general. In my view, the bottom is in and we're likely going to continue this bullish move for the next few weeks.
Still, there's plenty of bearish investors. Yes, the macro is bad and a recession is likely, but that doesn't mean we can't go up. After 1 year of selling there's simply little left to sell, so the easiest path is up.
Below I've made a collection of analyses and charts that all signal that the bottom is in and better times have come.
1) See the main chart. We bounced off the ~6 year support.
2) The PMO indicator has flashed a buy signal. This is a great indicator to catch big moves.
3) Bitcoin's monthly RSI is curling up, after reversing from support.
4) The crypto bear market has lasted exactly the same time as last bear cycle. Note that the bull-cycle has lasted equally long as well!
5) Bullish divergence on the BTC weekly chart.
6) A break out through the long-term bear market resistance.
7) The dollar index (DXY) is falling like a brick. A weak dollar is generally great for the markets. Every BTC bull-cycle was accompanied by a weakening dollar.
If you enjoyed this overview, please like this post. Have more bullish charts? Please share them below!
Still, there's plenty of bearish investors. Yes, the macro is bad and a recession is likely, but that doesn't mean we can't go up. After 1 year of selling there's simply little left to sell, so the easiest path is up.
Below I've made a collection of analyses and charts that all signal that the bottom is in and better times have come.
1) See the main chart. We bounced off the ~6 year support.
2) The PMO indicator has flashed a buy signal. This is a great indicator to catch big moves.
3) Bitcoin's monthly RSI is curling up, after reversing from support.
4) The crypto bear market has lasted exactly the same time as last bear cycle. Note that the bull-cycle has lasted equally long as well!
5) Bullish divergence on the BTC weekly chart.
6) A break out through the long-term bear market resistance.
7) The dollar index (DXY) is falling like a brick. A weak dollar is generally great for the markets. Every BTC bull-cycle was accompanied by a weakening dollar.
If you enjoyed this overview, please like this post. Have more bullish charts? Please share them below!
Note
Great analysis to revisit.
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