BITCOIN’S HIGH VOLUME SIGNALES THE END OF THE BEAR MARKET? For Indicator: BTCUSD by TradingShot – Technische Analyze – 2022-11-23 06:32:52

Two weeks ago we had the strongest week-by-week the sound In more than a year due to the collapse of FTX. This is a good opportunity to examine the historical impact of such a huge scale the sound nails on bitcoin ( BTCUSD ).

In this 1W diagram we see that the sound Peaks tend to be associated with trend reversals BTC . In particular, during the recent price action, we had a similar move the sound High on June 13, 2022. Almost the same the sound Peak between 5 months period. As this graph shows, the sound Tops of this or shorter period historically were either bottom or top formations.

previous the sound The pattern was between January 11th, 2021 and May 17th, 2021 and was a Bull Cycle Top formation. The former was between November 19, 2018, and May 13, 2019 and was the lower formation of a bear cycle. Before this, we had Bull Cycle Top formation from Dec 18, 2017 to Feb 5, 2018 the sound nails. Finally, the bottom of the 2014/15 bearish cycle was formed at the highs of January 12, 2015 – November 2, 2015.

The latter is the pattern most similar to the current pattern (Jun 13 – Nov 07, 2022) as there is a trend line of lower tops (bottoms). Can on November 7th the sound Elevation is the moment you change direction rising and get bitcoin From the 2 year Bear cycle or is it just a short term rebound at best like June 13th 2022 and February 5th 2018 the sound nails?

Let me know in the comments section below!

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