Bitcoin Bottom in but is Bear Over quicker than before ? for INDEX:BTCUSD by Orriginal
Just to keep things simple as I am just back from Holiday lol The colored Boxes show each of the parts of the 4 year cycles. color coded to show the general sentiment. As you can see from previous cycles, The RED Boxes show the Bear markets and you can also see how they last very nearly exactly a Year, PA dropping for the entire RED Zone. Currently, we are in the Newest RED Zone but we may have already reached the Bottom and we are onlt ha;f way through the Red box. SMA colors 21 …
Just to keep things simple as I am just back from Holiday lolThe colored Boxes show each of the parts of the 4 year cycles. color coded to show the general sentiment. As you can see from previous cycles, The RED Boxes show the Bear markets and you can also see how they last very nearly exactly a Year, PA dropping for the entire RED Zone. Currently, we are in the Newest RED Zone but we may have already reached the Bottom and we are onlt ha;f way through the Red box. SMA colors21 Orange50 Red100 Blue200 YellowWhy can we say we have reached the Bottom ?Many reasons that include PA reaching back above the 50 Month SMAAs we can see on the main chart, the 50 Month SMA is usualy reached as a Lowest point, Monthly candles CAN wick below and we did fall below in 2022 due to exceptional Finacial pressures being applied. The WeeklyHere we see PA back over the 200 SMA, a traditional line of Support / Bottom zone. The DailyHere we have PA back above the 50 Day SMAAll these are signs of strength BUT REMAIN CAUTIOSToday we have the FED that could turn things upside down. However. It is Very possible for a Further Drop. . . . . I am sure any drops would not be long lasting. Cut, despite this, I keep seeing that we are only Half way through that REd Box. . . . . . . The Bear is maybe not over. Volatile Ranging is very possible and as I mentioned in the Month Candle color post at the beginning of th emonth, we were expecting a Green July but the Crunch comes Next month. . . . . . So, remain cautious. . . . . but I am buying. . . . . . . . DisclaimerThe 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 theTerms of Use.