[BTC/USD] WHEN BEAR MARKET WILL ENDS ? - BITCOIN OVERVIEW 9/12
Hello,
Everyone is asking how longer this bear market could be. Nobody knows and you won't find any trustable opinion about it.
However , I find some facts which could suggest us it could be closer than you think.
BEARS ARE GETTING WEAKER :
I think that selling pressure is going down:
-If we look at the sales volume in time, we can observe how it has been reducing more and more.
-OBV is pointing up after touch three times the lows.
-CMF remains bullish after four weak months
-CCI is negative but is not performing so bad, very similar when bear market was near to end on 2015
-RSI is performing very similar than 2014. However, It haven't touched oversold zone which could help to end this bear market. Dont discard any spike lower
-Stoch RSI sharing an interesant bullish divergence
DESCENDING TRIANGLE:
Descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns.
I'm expecting two different ways where it can be broken as you can see on my picture. According to the past, any flash crash to 4-5k$ it would be very interesting to a big pressure in buys orders. But we can't discard any other kind of scenarios if Bitcoin have a buy pressure by other reasons
SHORTS CHART:
Shorts are reaching higher . Its possible see a final peak soon if Bitcoin prices fall below 5.8k usd. However. I wouldn't risk much because squeeze could come fast
NEWS:
Some important incoming news like ETF approval or rejected could boost the price or dump it more. We near really near of end September when market could turn in any direction due big news.
OTHER T.INDICATORS :
- There are some interesting charts using Fractals, Elliot Waves which suggest final stage is near there. I'm not much fan of EW but it could be useful for you.
FINAL THOUGHTS :
Cryptocurrencies have been downtrend for 9 months. Most currencies have suffered losses between 75% -80% of their value.
We are probably in the last phase of fall before the volume comes back strong in bitcoin and altcoins.
Here two well differentiated opportunities are presented: The first, wait for the price to be again above MA200 (8000-8500 $) which will mean a return to the bull market.
The second, try to buy in a possible flash-crash (If it finally happens) about $ 4000-5000, which will mean great prices for long-term.
Good luck
Everyone is asking how longer this bear market could be. Nobody knows and you won't find any trustable opinion about it.
However , I find some facts which could suggest us it could be closer than you think.
BEARS ARE GETTING WEAKER :
I think that selling pressure is going down:
-If we look at the sales volume in time, we can observe how it has been reducing more and more.
-OBV is pointing up after touch three times the lows.
-CMF remains bullish after four weak months
-CCI is negative but is not performing so bad, very similar when bear market was near to end on 2015
-RSI is performing very similar than 2014. However, It haven't touched oversold zone which could help to end this bear market. Dont discard any spike lower
-Stoch RSI sharing an interesant bullish divergence
DESCENDING TRIANGLE:
Descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns.
I'm expecting two different ways where it can be broken as you can see on my picture. According to the past, any flash crash to 4-5k$ it would be very interesting to a big pressure in buys orders. But we can't discard any other kind of scenarios if Bitcoin have a buy pressure by other reasons
SHORTS CHART:
Shorts are reaching higher . Its possible see a final peak soon if Bitcoin prices fall below 5.8k usd. However. I wouldn't risk much because squeeze could come fast
NEWS:
Some important incoming news like ETF approval or rejected could boost the price or dump it more. We near really near of end September when market could turn in any direction due big news.
OTHER T.INDICATORS :
- There are some interesting charts using Fractals, Elliot Waves which suggest final stage is near there. I'm not much fan of EW but it could be useful for you.
FINAL THOUGHTS :
Cryptocurrencies have been downtrend for 9 months. Most currencies have suffered losses between 75% -80% of their value.
We are probably in the last phase of fall before the volume comes back strong in bitcoin and altcoins.
Here two well differentiated opportunities are presented: The first, wait for the price to be again above MA200 (8000-8500 $) which will mean a return to the bull market.
The second, try to buy in a possible flash-crash (If it finally happens) about $ 4000-5000, which will mean great prices for long-term.
Good luck