BTCUSD Monthly chart Showing Incredible bullish signs
BTCUSD Monthly chart Showing end of the bear market with weaker bearish candles
If you take a look at the bigger picture, BTC has been on a bull run for 2years and 3month starting from October 2015 to January 2017.
That is 27 month of CONSECUTIVE bullish candles.
On the 2013 bear market, BTCUSD experienced 10month in a row of bearish monthly candles.
On its current states, BTCUSD is on its 9th month of bearsish candles, very close to the last bear market of 2013.
It can be noticed that the red candles from February2018 to October2018 is getting smaller each time, which indicates that we are near the end.
We could anticipate the first bullish monthly candles, which would either going to be November 2018 or December 2018.
NOTE: A monthly monthly candle for BTCUSD could be a 30-50% gain. This will put BTC anywhere between 9300-13000. Or an average of ~11200, which would coincide to 0.382 fib level from all time high.
1- The last bull run, The monthle RSI was at 99.5%, incredible!
2-The current monthly RSI is still above support level.
3-The 2013 bear market, BTCUSD had a double bottom on the weekly RSI.
4-The weekly RSI has never touched the oversold region in this bear market, which indicates the decrease in volatility in BTCUSD.
Do not sell your BTCUSD till monthly RSI is above 90-95%. Then you will be very happy.
If you take a look at the bigger picture, BTC has been on a bull run for 2years and 3month starting from October 2015 to January 2017.
That is 27 month of CONSECUTIVE bullish candles.
On the 2013 bear market, BTCUSD experienced 10month in a row of bearish monthly candles.
On its current states, BTCUSD is on its 9th month of bearsish candles, very close to the last bear market of 2013.
It can be noticed that the red candles from February2018 to October2018 is getting smaller each time, which indicates that we are near the end.
We could anticipate the first bullish monthly candles, which would either going to be November 2018 or December 2018.
NOTE: A monthly monthly candle for BTCUSD could be a 30-50% gain. This will put BTC anywhere between 9300-13000. Or an average of ~11200, which would coincide to 0.382 fib level from all time high.
1- The last bull run, The monthle RSI was at 99.5%, incredible!
2-The current monthly RSI is still above support level.
3-The 2013 bear market, BTCUSD had a double bottom on the weekly RSI.
4-The weekly RSI has never touched the oversold region in this bear market, which indicates the decrease in volatility in BTCUSD.
Do not sell your BTCUSD till monthly RSI is above 90-95%. Then you will be very happy.