BITCOIN 1W MA50/100 Cross! No better time to buy than now!

Bitcoin (BTCUSD) saw a strong pull-back last week after it failed to break above its 1D MA100 and got rejected. We've already addressed that but what we do need to update you on is the fact that the 1W MA50 (blue trend-line) is crossing below the 1W MA100 (green trend-line). This is technically a Bearish Cross but as the chart shows, during the previous two Bear Cycles, it has always been a signal that the price has formed its Cycle low and that BTC was inside the Accumulation Zone leading to the new Bull Cycle.

It is evident that the current price action is very similar to those of February 2019 and April 2015 where BTC made its 1W MA50/100 Bearish Cross following a pull-back. With the 1W MA300 supporting, we may be closer to a 2015 type price action than 2019. In any case, there is another important set of indicators showing that the bottom is in.

First the 1W LMACD making a Bullish Cross. Every time it made this formation after touching the -0.20 level, BTC was well inside the Accumulation Zone of the new Bull Cycle.

Secondly, the RSI on the 1M time-frame hit and is rebounding on the historic Lower Lows trend-line (Support). Every time this happened the Cycle bottom was in and when the RSI broke above its MA (yellow trend-line), a new rally (first of the Bull Cycle) started above the 1W MA50.

Do you agree that this indicator combo is enough evidence that the time to buy is now? Feel free to share your work and let me know in the comments section below!




--------------------------------------------------------------------------------------------------------

Please like, subscribe and share your ideas and charts with the community!

--------------------------------------------------------------------------------------------------------