Is the bottom of Bitcoin in, or not?
In this thread, I would like to update you with charts and on-chain analysis on this topic, since my last thread was more than 3 months ago.
If you ask me, this is one of the most important trendlines for Bitcoin (for the last 5 years).
Every time BTC has broken through it (whether down or up), the price fluctuations have been very volatile afterwards.
For now, the line is holding.
This chart shows quite clearly that structures can always repeat themselves. It doesn't matter, whether it is inverse, other timeframes, or other assets.
Left= BTC '18-'21. Right=Inverse-Chart BTC '21-'22.
We should see a reversal very soon.
Inverted chart of Bitcoin.
BTC touched this trend line not so often. This is only the third time in 7 years.
Could this be a turning point? If so, I am targeting the red dotted line (>100K), before we slide into a major crash.
Had already mentioned this.
2014/2015 Top to Bottom = 426 Days 2021/2022 Top to Bottom = 426 Days
One of my favourites: Mayer Multiple Bands (MMBs).
As you can see, we touched the 🟠 line only in the Covid Crash (exceptional situation=very volatile).
Otherwise, BTC has never broken the 🟠 line.
This area has always been an optimal buying opportunity
Yes, the 200 Weekly MA is great and has proven many times over the years that it was a good decision, to buy in this area.
But have you heard of the SMMA 200?
It was very accurate in 2015, 2020 and BTC is at that line again now.
BTC has never broken it.
I had already told you in June that the ultimate low of BTC always happened at the beginning of the red channel.
So far, it's been repetitive.
To me, it looks like BTC is forming a channel here, as in previous years.
Bitcoin Rainbow Price Chart:
Since 2012, this chart has been one of the best tools, to figure out which levels are good to buy or sell.
BTC is currently at a level, like the 2020 Covid Crash, where it fell out of the blue area for a few days.
Fear & Greed Index:
As I said last time - this picture is self-explanatory.
If you look closely, it looks very similar to 2019.
Accumulation, before a leg up.
In my opinion, the puell multiple chart is one of the best on-chain charts, when it comes to finding the bottom for BTC.
In recent years, it has fallen into the green zone first and then tested this area a second time, before making the next run up.
I have shared this chart the first time, at the beginning of the year and it still runs 100% according to plan.
I think Altcoins will experience a run that many haven't seen before.
Is the Bottom in, or not?
As I said last time, finding the exact bottom of Bitcoin is like winning the lottery.
However, you can see that all the charts I shared last time, continue to suggest that we have already seen the bottom of BTC.
13/14This post is based on this twitter thread.