This system is the best to find bottoms, NEVER WRONG Successfully found the 2018 2019 and 2020 bottom.
I didn't update last week, So a fortnight ago we had the price at $18440 - $20100, this time around the bollinger band curled down alot.
If things continue as they are Bitcoin will bottom between $16400 - $17600. A major price move upwards needs to happen to avoid this.
But for that to be ruled out we must close above the 20 Week Moving average $46125.
Also noted the last line of defense has been broken. Weekly price closed below the supertrend, for the last few weeks it held in the last hours but not this week. I do expect a rally and its quite overdue. But I believe with all these technicals is that we have been and we are in a bear market.
I didn't update last week, So a fortnight ago we had the price at $18440 - $20100, this time around the bollinger band curled down alot.
If things continue as they are Bitcoin will bottom between $16400 - $17600. A major price move upwards needs to happen to avoid this.
But for that to be ruled out we must close above the 20 Week Moving average $46125.
Also noted the last line of defense has been broken. Weekly price closed below the supertrend, for the last few weeks it held in the last hours but not this week. I do expect a rally and its quite overdue. But I believe with all these technicals is that we have been and we are in a bear market.
