BITCOIN The bottom is in based on RSI-Sine Wave structure

This is a very unique approach on Bitcoin (BTCUSD) where I take into consideration the wave length of the RSI on the 1W time-frame in an attempt to identify potential correlations with Cyclical behavior. The result is striking and aligns almost perfectly with Cycle Bottoms.

The first step is to turn to the 1W RSI and calculate the middle of the wave length that starts on one bottom and ends on the next. It is interesting to notice how the waves overlap as they contain all of the RSI action. This gives us the top of the wave which in candle terms it is far from the top of the Cycle. In fact it is at the start of the parabolic rise of the Bull Cycle.

If we take the Sine Wave tool and draw the peak on those RSI peaks, we see that the bottom of the Sine Waves on each BTC Cycle is almost on the actual bottom. And for the current Cycle that was on last week's (1W) candle. With the 1W MA300 (red trend-line) supporting so far, all the price action needs to do in order to confirm that is break above the 1W MA200 (orange trend-line) below which we're trading for the past month.

Do you think the bottom is in for Bitcoin? Feel free to share your work and let me know in the comments section below!


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