An increasing number of long-term indicators have been showing lately that Bitcoin (BTCUSD) is past its bottom for this Bear Cycle. On this analysis I am shifting to an even longer-term time-frame, the 4W, using an overlooked but often very powerful indicator: the Williams Alligator.
During the past two Cycles, the bottom was formed when the green trend-line (lips) crossed below the red trend-line (teeth). On both of then that took 15 bars from the Top of the previous Bull Cycle. Then the green trend-line Bearish Cross below the blue trend-line (jaws) ushered the Accumulation Phase and it wasn't until the red trend-line crossing below the blue that we had the final signal of the first strong rally of the new Bull Cycle.
This time the Green/ Red Bearish Cross took place on the current candle, 17 bars this time from the top. The Green/ Blue Bearish Cross has been formed on the September 12 candle, while the Red/ Blue on November 07 2022. As result this prints a quite reliable roadmap on how BTC's price action might trade in the coming months. It basically suggests that by late October, Bitcoin could be ready for a strong end-of-the-year rally.
At the same time, we shouldn't ignore the, always reliable on long-term projections, RSI indicator. This shows that it hit the Support, which has formed the bottoms of 2014 and 2018, two candle's ago and is now rebounding. Additional strong information is that when the RSI broke above its MA (yellow trend-line), the rally started.
Do you agree with the Williams Alligator that the bottom is behind us and we've entered the Accumulation Phase of the new Bull Cycle as BTC prepares for a Q4 rally? Feel free to share your work and let me know in the comments section below!
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During the past two Cycles, the bottom was formed when the green trend-line (lips) crossed below the red trend-line (teeth). On both of then that took 15 bars from the Top of the previous Bull Cycle. Then the green trend-line Bearish Cross below the blue trend-line (jaws) ushered the Accumulation Phase and it wasn't until the red trend-line crossing below the blue that we had the final signal of the first strong rally of the new Bull Cycle.
This time the Green/ Red Bearish Cross took place on the current candle, 17 bars this time from the top. The Green/ Blue Bearish Cross has been formed on the September 12 candle, while the Red/ Blue on November 07 2022. As result this prints a quite reliable roadmap on how BTC's price action might trade in the coming months. It basically suggests that by late October, Bitcoin could be ready for a strong end-of-the-year rally.
At the same time, we shouldn't ignore the, always reliable on long-term projections, RSI indicator. This shows that it hit the Support, which has formed the bottoms of 2014 and 2018, two candle's ago and is now rebounding. Additional strong information is that when the RSI broke above its MA (yellow trend-line), the rally started.
Do you agree with the Williams Alligator that the bottom is behind us and we've entered the Accumulation Phase of the new Bull Cycle as BTC prepares for a Q4 rally? Feel free to share your work and let me know in the comments section below!
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.