BITCOIN Ultimate Buy Signal just flashed on 2W

As analyzed on our previous post, Bitcoin (BTCUSD) almost hit the 1W MA300 (red trend-line), which is the line that formed the bottom during the March 2020 COVID flash crash as well as August 2015.

This time the strongest Buy Signal flashes one time-frame higher, where on the 2W chart the RSI reached the Lower Lows trend-line of the Channel Down it has been trading in since it first started trading. This trend-line formed the bottoms on all three previous BTC Cycles. A confirmed buy would be when the RSI breaks above its MA (yellow line), which just so happens to match the 1D MA100 (blue trend-line) break-outs on prior Cycles. That is the earliest buy signal the market gives before it starts a rally and the new Bull Cycle.

Also watch that the price is approaching the 1.75 Fibonacci extension from the High of the first BTC Cycle (June 2011). While the 2nd Cycle marginally broke below the 1.25 Fib extension before making its Bottom, the 3rd Cycle didn't hit its +0.25 ext i.e. 1.5 Fib. This is consistent with the Theory of lower volatility over time during each Epoch as the price stability is achieved through maturity and higher adoption.


Is this signal enough to make you buy on the current levels? Feel free to share your work and let me know in the comments section below!



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