Bitcoin's MACD just crossed the signal line, indicating a likely move to the downside. Previous crosses of this manner have led to a -30% to -50%+ drawdown.
50W Moving Average Deviation Rate and 100W EMA .5 and .7 all indicate that we are deep in the bottom zone for Bitcoin. Bull markets make you money, bear markets make you rich. :))
Bitcoin's 100 week moving average deviation rate is currently at -32%. This level has been breached only 4 times in its history. Can we go a bit lower? Possibly, but this is a screaming buy signal based on history.
Bitcoin could continue crashing and eventually find support at the .786 fibonacci ($17k), which is also the bottom of regression curve. Overlaying the fractal from March 2020, we get the peak over $200k in early 2023. What do you think, is this possible?
Based on this simple comparison of the Bitcoin bull cycle now vs. 2017, I predict Bitcoin will reach the end of the bull cycle towards the end of June 2021. This assumes a bull cycle of 8.5 months (Oct 2020- June 2021), which is what we saw in 2017 (April - December 2017)
