Taking the inverse of BTC, 1/BTC, we can see that its 3D RSI topped on June 24th and reverted.
The tops of the inverted 3D BTC RSI correspond to the major dumps in the real BTC price such in December 2018 and the March 2019 black swan event.
We can interpret the topping of the inverted BTC RSI as the bottom of the real price and new upward trend like in April 2019 will begin with the breakdown of the inverted RSI trendline.
If we estimate that the inverted BTC drops to the quarter line of the descending channel at around end of December which should correspond to the bottom of the inverted BTC RSI, then that point will correspond to 40k in BTC real price.
There should be no more dumps from now till end of year.
The tops of the inverted 3D BTC RSI correspond to the major dumps in the real BTC price such in December 2018 and the March 2019 black swan event.
We can interpret the topping of the inverted BTC RSI as the bottom of the real price and new upward trend like in April 2019 will begin with the breakdown of the inverted RSI trendline.
If we estimate that the inverted BTC drops to the quarter line of the descending channel at around end of December which should correspond to the bottom of the inverted BTC RSI, then that point will correspond to 40k in BTC real price.
There should be no more dumps from now till end of year.
Comment:
Idea working great. Looks like the top is beyond March 2023, but that is to be reassessed
