Brodie

Cycle Bottom Indicator [CBI] - Log Chart [UPDATE 02]

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
A quick update relating to our previous post.

BTC has continued its trend to quickly drop to the 200W SMA once it has broken the 600D SMA and we are now in our Golden Box accumulation zone between the 150W SMA and the 200W SMA with potential to drop down to the green box and visit the 300W SMA .

If our 'BTC - Historic Over Bought / Sold MAs' indicators holds true, then we are more likely to visit the 300W SMA than hold at the 200W SMA .

The first test of the Cycle Bottom Indicator ( CBI ) is aligning with potential TA support targets if the MA's continue on their current path.

The custom Fear and Greed indicator on the daily is heading toward dark red undervaluation territory, historically aligning with cycle bottoms.

The % undervaluation from the 200D & 600D moving averages are both in the green zone, aligning with cycle bottom territory.

There are also other Macro time frame indicators such as the Stochastic RSI , RSI , MACD and on chain metrics which are aligning with conditions which have resulted in past cycle bottoms.

For fun, I have overplayed the 2017 market cycle bottom for a scenario where we accumulate and find out bottom at the 300W SMA .

Keen to here your thoughts (comment below).