we have started some bullish momentum to start the new year! (on the weekly, so this will take some time to play out)
Comparing the 2014-15, 2018-19 cycle with the 2022 bear cycle
Measured 427 days (this week) the previous 2 drops have had a retracement of 85%, and we are currently only at 76%. An 85% drop would take BTC to around $10 000.
previously, the 50 ma did not cross the 200 - however unless bitcoin makes a serious gain in the near future we are probably looking at a death cross which has never happened before.
The RSI similarities downward trendline has been broken there is upward momentum
The Vumanchu indicator is also showing some bullish divergence currently
So I am bullish for 2023 There will be ups and downs! A possible rally now, or a drop probably relating to macro factors (fomc/inflation/stock market) But a likely drop to lower levels by May/June-ish
Good but your final chart is wrong, you've drawn the lines from different start dates when they should be the same. if drawn like the other two you would see that the rsi should start steeper on the peak of nov '21 and has already broken through sep '22 and re-tested
PrinterBrrrrrrr
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@PrinterBrrrrrrr, I would put us currently at 05 oct '15 levels, pump is coming very soon