Bitcoin: Final pressure point before the new bull market.

Using the Gaussian Channel, we can see how last week's aggressive rise has now entered into the bearish wave length. In the 2014/ 2015 bear cycle, the time it breached this length marked the final pressure point before the new bull market started. It is rational to assume that Bitcoin has entered into a "buy-the-dip" phase as the consolidation of the accumulation/ distribution stage unfolds.

The next question that arises is how long will the bearish wavelength last this time.

In 2014/ 2015, the spike that breached into the bearish wave length was at the middle of the cycle and lasted approximately 406 days. If this time last week's spike represents what the 2014/ 2015 one did, then this wave length should last less than 406 days (315).

Whatever the duration, BTC is most likely at the very early stages of a the new bullish cycle.

Get a quick idea why by clicking on the study below:

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