Bitcoin reached the bottom?

2022年10月15日

Hello everyone!
Today I want to analyze the Bitcoin chart to determine the long-term direction of price movement.
I took a weekly chart from 2012 to 2017 (left) and from 2019 to the present (right).

2013
Divergence
The first peak was formed on April 8, 2013.
The price at that moment reached $266.
It is from this point that we begin to monitor the price movement and find patterns.
The oscillator readings also indicate the formation of a peak and so far there is nothing unusual - the chart and the price show the same indicators.

The next peak was formed on November 25, 2013.
The peak was $1,242.
The price updated all the previous maxims, went up very much.
And if you look at the oscillator graph, you can see that the readings of the graph do not correspond to the readings of the main graph, because the oscillator has not updated the previous maximum.
This is a divergence, and a very strong one, because the price went above the first maxim by 360%!
And this distance was covered in 231 days.

Fall
After such a strong divergence, the price began a long decline, which lasted 630 days.
The drop was equal to 88%, the price decreased almost 10 times!

Bottom
In September and October, many shouted that the bottom had been reached.
Many opened positions and lost millions.
As we can see, the price found the bottom only at the moment when the level from the first peak was reached.
It was in this area that the formation of a double top began, which is a bullish pattern.

Height
After reaching a significant level of the first peak, the price began to grow aggressively.
During the same 630 days, the price updated the maximum ($1,242) and showed an incredible 660% profit!
As we know, the price went well above $1,242...

2019
Divergence
On January 24, 2019, the price formed the top of $13,870, in addition, the oscillator also showed a new peak.
The price and the indicator worked the same.

After that, as many as two vertices were formed: the first vertex - April 12, 2021 64898$; the second vertex - November 8, 2021 68997$.
the price has risen from the first peak of 2019 by as much as 376%!
Both peaks, according to the oscillator, were lower than the first peak of January 24, 2019.
This is the divergence.

Fall
After the last peak, the price is still in a strong downtrend.
At the moment, the drop is more than 70%.
The peak of 2019 has not yet been reached.

It is now September and many analysts again claim that bitcoin has reached the bottom.
Is it so?

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻