🅱️ (₿) 4.5 Months Later Bitcoin...

1 thg 1, 2023

Bitcoin hasn't produced a single bounce in more than 4.5 months... This is odd behaviour... Get ready for change.

Another of the classic yet very strong signals we all are familiar with is the divergence between an asset and oscillator.

Bitcoin capitulated after April 2022 to hit a low at $17,605 on 18-June same year...

A small bounce took place that ended mid-August and then we had a lower low that is very weak and looks like a truncated fifth.

Its been almost 140 days since the last bounce/relief rally and nothing bullish we've seen.

The trading volume is leaning towards green, notice 22, 26-Sept...
The lower lows in November have lower volume than May/June...

These signals point to bullish accumulation (big green bars) and bearish trend weakening (smaller and smaller red volume bars)...

Finally, here is the RSI...

- The lowest point was hit 190 days ago, in June.
- Then we have an ascending channel, higher lows and higher highs.

This marks a strong bullish divergence with bitcoin and again, the trading volume has become really low...

When volume drops to a halt, to almost zero then a new and strong move is about to show up.

With the bullish divergence in play and the rest of the signals mentioned above... We are obviously betting higher but...

It can all change within a minute, a day, a second...
Whatever happens is for the market to decide... we READ THE CHART!

We have a bullish bias in place.

Namaste.