BitcoinAggiornato Bitcoin and the revenge of the monthly cross
Looking at the monthly you will notice that the 2013 and 2017 bull runs end and capitulated when the 9 SMA crosses the 19 SMA. That said I believe the 2021 bull run has been over for a year and the 9 SMA has just contacted the 19 SMA seen in the chart. This is a monthly so it's slow moving but capitulation is immanent as the 9 SMA is touching the 19 SMA as we speak. Let the chart display the message. If you're in BTC tread lightly if you have an outlook at 5 years don't even worry but much lower prices are coming. I hear much noise about "it can't go lower than 23k" "Bitcoin is a new era" "It will never go below 2017 top" and it's all garbage. Never listen to these people touting this stuff. IT CAN ALWAYS GO LOWER THAN YOU THINK. I believe 12k to 16k bottom is coming in the next 30 days. It will be a long exhausting dumpster fire until we shake out 90% of the hands.
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2013 top 9SMA (red) crosses 19 SMA (yellow) Nota
2017 top 9 SMA (red) crosses the 19 SMA (yellow) Nota
2021 top 9 SMA (red) Crosses the 19 SMA (yellow) Best hold onto your hats crash is very near. I mean weeks of selling until we find bottom dumpster fire...... Nota
Bitcoin is dropping again. I don't see interest subsiding so this isn't the capitulation yet maybe just the opening show. Look at this bitcoin fib channel, this is scary stuff. Nota
Bitcoin has completely fallen out of the Keltner channel. This is as bearish as it gets. Nota
Anyone saying we've bottomed at 20.5k is not looking at volume. Just look at past volume spikes when Bitcoin has capitulated and it's simple to see that this is on low volume. We need to see a major volume spike to know bottom is in. A bottom happens when most people toss in and sell. This is what a bear market is for to shake everyone out. Nota
We're due for a relief rally of some type you would think. I believe it could be possible to rally up to 37.5k area. I'm comparing the BTCUSD (Bitstamp) chart and the GBTC chart. I find it interesting that GBTC has a different high then BTCUSD. This is the GBTC chart
We're also starting to push up into the ichimoku cloud but will we be denied again?
DMI also had a positive cross on the daily. Investors seem like they are in a holding formation just waiting on more news.
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