The chart is self-explanatory.. We still need to reach the bottom..
In the last cycles, the price reached the trendline drawn from the previous top to start of the last wave of the previous bull run.
I am waiting 2300-2800.. But we could have some quickly drops lower..
According to this theory there is Weekly Stochastic RSI that is in overbought and several on chain indicators (nvt signal for example) that are telling us that we have more room to drop..
In the last two cicles the bottom was reached between the zones 0.318 and 0.618: End of May 2019 - June 2019.
The Chicago Board Options Exchange (CBOE) also has announced it will no longer offer any new Bitcoin futures contracts from the month of March. But since the derivatives product was USD settled, this is a very are bullish news. Guess when will expire the last contract? End of June..
Is it a coincidence? Who knows..
Berto.1986
