Medium term Bitcoin trend analysis
This is my analysis for the next 6 to 9 months, it's an additional information in relation to my recent published ideas. Before we can see the trend chance I believe one last drop to about $2600 will occur, I explained why believe this price will be the bottom in my previous idea, I realize there is no previous historical support level there but hey, market can make what it wants, and certainly creating a bottom where it want's too.
Monthly RSI is currently at it's lowest point ever since the beginning of Bitcoin, there is still a lot more room for downside but very unlikely, I'm guessing we might see one final drop to the capitulation level before it will start climbing back up.
Histogram bars negative growth is progressively slowing down but the Moving Averages are still very negative and at their current rate of drop it's quite possible that FOR THE FIRST TIME in the Bitcoin's history they'll cross the zero line within the next 3 or 4 months before the positive crossover can occur.
Curve is still dropping every month at the slowing down rate. I've marked our current position in relation to the previous Bear Market, that sets us for about another 6 months before the real possible trend change might occur.
Monthly RSI is currently at it's lowest point ever since the beginning of Bitcoin, there is still a lot more room for downside but very unlikely, I'm guessing we might see one final drop to the capitulation level before it will start climbing back up.
Histogram bars negative growth is progressively slowing down but the Moving Averages are still very negative and at their current rate of drop it's quite possible that FOR THE FIRST TIME in the Bitcoin's history they'll cross the zero line within the next 3 or 4 months before the positive crossover can occur.
Curve is still dropping every month at the slowing down rate. I've marked our current position in relation to the previous Bear Market, that sets us for about another 6 months before the real possible trend change might occur.
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