BITCOIN BOTTOM SIGNAL THAT NO ONE IS TALKING ABOUT!!

Hello, everyone welcome to this analysis, here I am presenting this chart to clear out doubts about BITCOIN’S possible bottom whereas, many influencers are posting for $5k and even for $2k.

IMO, we should look at the fractals first before coming up to any conclusion. I will keep it simple and to the point which can help you to make further decisions at the right time.

Now, let’s get back to the chart,

Here I am presenting a chart of BLX (BRAVE NEW COIN LIUID INDEX)

CYCLE 1

The first cycle was from OCT 2015 and continued till JAN 2018 from the price level of $233 to $19746 in 792 days which was roughly 7000%.

After recording a new ATH of $19746 BTC was rejected from that price level and moved downside, which was considered the first bear cycle.

In Jun 2018 MACD printed a bearish crossover and BTC moved to the downside by 60% at the RED MA.

After reaching on red MA BTC traded for 3 consecutive months above the RED MA.

That bear cycle was continued for 396 days after recording the new ATH.

CYCLE 2

In Feb 2019 MACD started moving upside down and printed a light red bar which was the trigger point for the upcoming bullish cross-over.

In Feb 2019 BTC started gaining upside and a new bull run was started from that point after 396 days of the bearish trend.

From $3354 price reached $13831 in 5 months and again it dropped down at the RED MA and bounced quickly.

After a quick bounce, BTC performed extremely well and printed a new ATH which is $66949 in 973 days from the price level of $3354.

Now, in the current scenario, BTC is continuously falling from the last 426 days and is almost -70% down from the ATH.

The thing to notice here is whenever BTC moves downside BTC respects every single time this red Moving Average.

Hence, it becomes an important oscillator to look at for future price speculation.

The monthly candle closed above the RED MA at the price level of $19925 which is a good signal that the red MA is holding the BTC well.

Here’s what the Bulls Missed!

On 1st Jan 2022 MACD printed a bearish crossover which was the major exit point for the bull traders around $42k.

Now BTC is dumped almost 59% from the price level of $42k.

Now if we consider the previous PA then we can observe here that whenever BTC drops at RED MA it consolidates and prints 2 or 3 candles on the support level.

So, more red downside bars are likely to print in the upcoming months.

As we all know MACD is a lagging indicator whenever BTC bounces for some percentage after that MACD prints a crossover so, we need to accumulate BTC now because getting in at the perfect bottom is a bit difficult, so DCAing could be the best strategy here.

Conclusion:-

AS PER OUR RESEARCH THE IMPORTANT RANGE TO KEEP AN EYE ON IS:

$9644 to $13386 which is the strong support zone for BTC, and a candle close above this range will be the reversal point to trigger the next bull cycle.

If you were waiting to buy BTC this could be the right time to get into and try to average at every dip.

Remember, It’s better to buy BTC below $20k than above $30k isn’t it?

Cheers!

Team Cryptosanders

Disclaimer:- None of the above should be taken as investment advice. This is simply our research and is meant for educational purposes only.

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