Looking at this weekly chart of Bitcoin in the Logarithmic price scale, one has to wonder at the significance of -0.22 on the LMACD indicator. The bottom of every bear market in Bitcoin since 2012, which I simply every bear market in the history of Bitcoin, has occurred when the LMACD has turned up to a positive inclination after touching the -0.22 level.
Furthermore, every bear market bottom since 2015 has occurred when the weekly RSI has fallen below 30.
As we close in on the current week, with price confirming the 1W 200MA as support with already 2 weekly closes above it, might the pending cross of the weekly LMACD above its Signal line also be confirmation of the bear market lows being behind us, as it has for every other market bottom in the history of Bitcoin?
What do you think? Is the bottom in or are we still waiting for a new market low?
Furthermore, every bear market bottom since 2015 has occurred when the weekly RSI has fallen below 30.
As we close in on the current week, with price confirming the 1W 200MA as support with already 2 weekly closes above it, might the pending cross of the weekly LMACD above its Signal line also be confirmation of the bear market lows being behind us, as it has for every other market bottom in the history of Bitcoin?
What do you think? Is the bottom in or are we still waiting for a new market low?
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