BTC: Indicator Showing Potential Bitcoin Bottom
Updated
I was granted access to the Hall and Co Trading 2.0 indicator. This is a weekly (W) indicator for bull periods that show buy areas [orange], targets [green], and stop-losses [red]. The BSO signal forms on a weekly candle, and when it closes it indicates a buy opportunity.
However when used with the BTC daily (D) chart it seems to show where the peaks are, and interestingly where the top was.
Now if we look back to 2014 we can see that something similar happened that is happening now: a lack of a daily BSO for a long time. In 2014 between the last BSO and the capitulation final bottom was 1.5 years, then 3 month later another BSO.
Using the same logic, then we should see a final bottom in late February/March (1 month time roughly speaking), which should take us to the 2xxx level that everyone thinks we are going to. This also ties in with the wedge and decreasing volume we are in currently. Last time this happened we crashed from 6k to 3k due to the nonexistent volume. However, this bear should technically take longer than last time due to the maturing market.
You can ask TomHall for him to grant you access to the indicator.
However when used with the BTC daily (D) chart it seems to show where the peaks are, and interestingly where the top was.
Now if we look back to 2014 we can see that something similar happened that is happening now: a lack of a daily BSO for a long time. In 2014 between the last BSO and the capitulation final bottom was 1.5 years, then 3 month later another BSO.
Using the same logic, then we should see a final bottom in late February/March (1 month time roughly speaking), which should take us to the 2xxx level that everyone thinks we are going to. This also ties in with the wedge and decreasing volume we are in currently. Last time this happened we crashed from 6k to 3k due to the nonexistent volume. However, this bear should technically take longer than last time due to the maturing market.
You can ask TomHall for him to grant you access to the indicator.
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