COINBASE:BTCUSD   Bitcoin / U.S. Dollar
I am not presenting all my reasons for believing that the bottom of the bear market has occurred, however, you can see in this chart that all Fib levels have been attained, the RSI is oversold, the MACD is at an extreme, there has been more sustained volume over the past few days than anytime since the March 2020 lows. These observations coupled with the historical fact that this is the 7th consecutive week of weekly red bars, and the previously longest period of consecutive weekly declines was just 5 weeks, gives me confidence that we have seen the low point.

What do you think? Is it higher prices from here, or is BTC about to fall through the floor of the previous cycle's all time high of $20k (that's never happened before, BTW)?

If you would like more views and insights, for the cost of a cup of coffee, join me on Patreon:

The 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 the Terms of Use.