BTC LONG VIEW CHART
This chart is so simple but in the same time so good.
In the last bear cycles:
-When the price droped below the 150 WMA (Weekly Moving Average) (blue) and tested the 200WMA (yellow) we had a couple of months in consolidation between this 2 WMA;
In this time of consolidation between the 2 WMA we also had an RSI indicator with oversold values (Order block on the RSI indicator);
And on 2018 bear market we had a retrace to the 0,382 level of FIB retracement , precisely where we are right now.
Curiosity
As well on 2014 Bear market we have now a falling wedge pattern in formation (Bullis pattern).
On 2014 the price broke down the support line of the falling wedge, Eventrough in the followng weeks the price came back to the falling wedge.
Which is curiously the same thing that is happening ritght now, the price broke the falling wedge pattern and next i believe, given the market analysis above and the similarity with previous bear cycles we are close to a bottom and in a Exelent time/zone for accumulating Bitcoin
In the last bear cycles:
-When the price droped below the 150 WMA (Weekly Moving Average) (blue) and tested the 200WMA (yellow) we had a couple of months in consolidation between this 2 WMA;
In this time of consolidation between the 2 WMA we also had an RSI indicator with oversold values (Order block on the RSI indicator);
And on 2018 bear market we had a retrace to the 0,382 level of FIB retracement , precisely where we are right now.
Curiosity
As well on 2014 Bear market we have now a falling wedge pattern in formation (Bullis pattern).
On 2014 the price broke down the support line of the falling wedge, Eventrough in the followng weeks the price came back to the falling wedge.
Which is curiously the same thing that is happening ritght now, the price broke the falling wedge pattern and next i believe, given the market analysis above and the similarity with previous bear cycles we are close to a bottom and in a Exelent time/zone for accumulating Bitcoin
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