This is not the first time we look at Bitcoin (BTCUSD) , but it is the first time that three major trend indicators all give a big long-term buy signal at the same time:
1) The Super Trend indicator, which we have used extensively to maintain perspective during the Bear Cycle, just waved a green flag for the first time since December 2021.
2) The price broke inside the Ichimoku Cloud for the first time since December 27 2021.
3) The Mayer Multiple broke above its MA period for the first time since November 2021.
The last times all those indicators aligned their buy parameters at the same time was at the end of Bear Cycle bottom sequences, right before the first rally of the new Bull Cycle started: January 04 2012, July 09 2015, April 04 2019 (note Mayer MA data don't data before September 2012)).
This mix of green flashes make up a strong buy signal for the long-term and the real question now is how aggressive this new first rally of the new Bull Cycle will be. Will it be as aggressive as April - June 2019 or February - August 2012 or less aggressive as August - November 2015?
Feel free to let me know in the comments section below!
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Nice setup, same as mine. One question, I've been taught that each rally becomes weaker. This is viewable in your chart as the third cup hasn't run up as much as the previous ones. This is not necessarily a bad thing, trying to plan the right side of the cup and expectations for the next price run above the ATH. Thanks in advance.