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Bitcoin Chart Looks Like December 2018

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
These are 2-day charts of Bitcoin .

On the left is Bitcoin's chart at the December 2018 bottom and on the right is Bitcoin's current chart. Notice how similar they are.

On the bottom is the "Stochastic Heat Map" indicator. When price is extremely overbought the heat map appears red. When price is extremely oversold the heat map appears blue. In this case, Bitcoin's heat map is entirely blue - as oversold as it ever gets. Notice that the heat map looks the same now as it did at the December 2018 bottom.

If you compare the plot line (orange line) on the Stochastic Heat Map from December 2018 to the current chart, you will see that it is currently approaching the same value that was reached at the bottom in 2018.

While anything can happen, if we use past data to extrapolate to the current situation, we could conclude that Bitcoin is very close to a significant bottom.

Disclaimer: This post is not intended to be financial advice. I am not a certified or professional financial advisor. Trade at your own risk.

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