Bitcoin's 3 Market Cycles: Time & Price Analysis
*updated
+ Using monthly timescale, not weekly for clarity
+ Using the 7 and 50 MAs (moving averages). Why? Above the 7 has previously confirmed a bull run has began and the 50 has shown strong support in a bear market
Why did I make this?
I wanted to clearly display the data of the past and present bear markets and past bull runs and let the viewer draw their own conclusions and I was also tired of seeing so many ridiculous "hope charts" that are basically the current chart with an arrow pointing up at the end.
A few other thoughts:
Your hope will NOT make Bitcoin's price increase.
Any news will NOT make Bitcoin's price increase.
Fundamentals will NOT make Bitcoin's price increase.
If you see any mistakes or anything interesting you wish to discuss, fire away.
Thanks for viewing.
+ Using monthly timescale, not weekly for clarity
+ Using the 7 and 50 MAs (moving averages). Why? Above the 7 has previously confirmed a bull run has began and the 50 has shown strong support in a bear market
Why did I make this?
I wanted to clearly display the data of the past and present bear markets and past bull runs and let the viewer draw their own conclusions and I was also tired of seeing so many ridiculous "hope charts" that are basically the current chart with an arrow pointing up at the end.
A few other thoughts:
Your hope will NOT make Bitcoin's price increase.
Any news will NOT make Bitcoin's price increase.
Fundamentals will NOT make Bitcoin's price increase.
If you see any mistakes or anything interesting you wish to discuss, fire away.
Thanks for viewing.
Comment:
Labels were mixed up and RSI section too big, will be changed for next month's update. For now:
Comment:
*updated - changed disgusting colours and added support line for RSI. Beautiful!!
Comment:
Comment:
The above is the latest post regarding this chart, all updates will be posted there. Simply click on the chart to open post. Thanks.