Bitcoin prints 5 consecutive red months. Where do we stand?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has closed 5 bearish monthly candles in a row for the first time (and historically second) since November 2011. That streak was the end of Bitcoin's first bear cycle and signaled the parabolic rise to the April 2013 Highs of 266.

So where do we stand on the parabolic curve at the moment? We have done numerous studies on that matter but there is no better time to look at it again as based on the comparisons with the 2011 bear market, the completion of the 5 red month streak indicates that BTC has reached a bottom. The extension of the parabolic curve and a comparison with the previous bear cycle in 2014 shows that the price has one last drop to give before the new bull market starts (orange parabolic curves). For long term traders this is insignificant and will look to start building up long positions now. Moreover, since it is historically unlikely to see a 6 monthly candle bearish streak, it is reasonable to say that Bitcoin will start seeing Higher Highs on the 1D chart soon and is slowly entering into bullish territory (although the consolidation period can last up to 6 months).

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Don't you mean 12 months?
martinlih martinlih
These are my thoughts on bitcoin let me know what you guys think
btcusd buckle up. still a full-on bear market. next target 2200/2400. All bull setups get invalidated in a bear market, just keep that in mind.
hit play from my Sep 20th prediction. look how close i called the bottom in terms of price and timing. going forward on this prediction could we see over a 1,000 dollar boom in one day? gonna have to follow to find out....

Your bottom blue line is total nonsense.
+2 Reply
Unless Bitcoin breaks ~$4.4K, I'd suggest staying away. Wait for the market to tell you that it wants to go higher. It's not telling you that at this moment.

Long-term if Bitcoin fails again at the 200-day MA, the bear market is far from over.

Here's the story no one is telling on Trading View (which is strange):

+1 Reply
Love this analysis, I think this plays very well with where we are at with BTC on Coinbase as well. The support is there and the momentum is heading up. Great work!
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