However, those who missed this week's huge spike on Bitcoin shouldn't worry. Based on the 1D another pull back should be coming soon.
As seen on the chart since the price action crossed over the 200DMA (orange line) during the last bear market (that practically signaled the end of the bear cycle), every time the got over 83.000, BTCUSD declined at least -30%! In today's cycle, depending on where BTC makes the top, this puts the pull back to at least 3800.
Traders/ investors should be alert as the current consolidation/ accumulation period will offer a few buy signals/ entries before the next bull market completely takes over and leaves the current lows behind.
Below is such an example where the 1W and Mayer Multiple give the final Buy Signal within June and October:
P.S. Some evidence that the cycles bottom is in and we are on the early stages of the new bull cycle:
Here's an example of a lower TF (30 min) showing the same you mean. The price is going down, down, down, and suddenly, the lower high trendline is broken. But, as the higher TF was still going down, it keeps its path down.
I would better say monthly MACD histogram is going up, but you know how histogram turns down suddenly, whipsaw, and up again. With it I mean it's still risky. We must see a long term higher low, and it can still take months. That's why I'm a trend rider instead of long term trader. Each trader has its own trading style.
Here is a photo to illustrate what I mean.
Have a good day and thanks for your comment =)