Bitcoin hit the 1D MA100 (green) last week for the first time in 1.5 month with the 1D RSI crossing above the Lower Highs trendline that started on January 05 2021.
We have seen similar RSI Lower Highs breakouts in all previous Bear Cycles, namely on February 16 2019 and June 13 2015. Common characteristic is that the RSI breakout happened at the same time with a breaking above the 1D MA50 (blue) and caused an instant test of the 1D MA100. It took 15 days in 2015 and 40 days approximately in 2019 to reach (and break with ease) the 1D MA200 (orange).
Based on the above Bear Cycle bottom occurence, we should be expecting a test (and break) of the 1D MA200 next month, which is now at 24,665. Thumbs up if you agree!
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We have seen similar RSI Lower Highs breakouts in all previous Bear Cycles, namely on February 16 2019 and June 13 2015. Common characteristic is that the RSI breakout happened at the same time with a breaking above the 1D MA50 (blue) and caused an instant test of the 1D MA100. It took 15 days in 2015 and 40 days approximately in 2019 to reach (and break with ease) the 1D MA200 (orange).
Based on the above Bear Cycle bottom occurence, we should be expecting a test (and break) of the 1D MA200 next month, which is now at 24,665. Thumbs up if you agree!
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.