This ratio has proven to be effective at least 4 times since the secular Bitcoin bull market has started:
JAN 2015 - AUG 2015 - DEC 2018 - MAR 2020
Will it show the way in JUN 2022 ? Odds favour it might be so !
Either the ratio touched the 7 year ascending trendline (JAN 2015 - AUG 2015 - MAR 2020)
Or the RSI of the ratio reached deeply oversold levels (DEC 2018)
In JUN 2022 we will have both (ratio touting the trendline AND RSI reaching very oversold levels) !
Moreover the ratio will touch the previous ATH of DEC 2017 (indicated by the light blue horizontal line).
This had already happened in AUG 2016 when the ATH in the ratio functioned as support. Please note the light blue arrow !!
So now we have 3 indicators converging !! In JUN 2022 we will have ratio support line, RSI at around 30 and the previous ATH giving support !
PERSONALLY I think we will hold these levels !
* Shout out to Christopher Aron for showing me the important BTC GOLD ratio 7 year trendline !!
JAN 2015 - AUG 2015 - DEC 2018 - MAR 2020
Will it show the way in JUN 2022 ? Odds favour it might be so !
Either the ratio touched the 7 year ascending trendline (JAN 2015 - AUG 2015 - MAR 2020)
Or the RSI of the ratio reached deeply oversold levels (DEC 2018)
In JUN 2022 we will have both (ratio touting the trendline AND RSI reaching very oversold levels) !
Moreover the ratio will touch the previous ATH of DEC 2017 (indicated by the light blue horizontal line).
This had already happened in AUG 2016 when the ATH in the ratio functioned as support. Please note the light blue arrow !!
So now we have 3 indicators converging !! In JUN 2022 we will have ratio support line, RSI at around 30 and the previous ATH giving support !
PERSONALLY I think we will hold these levels !
* Shout out to Christopher Aron for showing me the important BTC GOLD ratio 7 year trendline !!