BitcoinShort
BTC — March Bloody March
The devil wears and suit and tie, and he’s known to prowl the ides.
March is hard on Bitcoin, and we’re nigh upon it.
Some stats:
March Bloody March
2015: Red Candle. O-255 / L-235 (8%)
2016: Red Candle. O-435 / L-380 (13%)
2017: Red Candle. O-1200 / L-890 (26%)
2018: Red Candle. O-10300 / L-6600 (36%)
2019: Green Candle. O-3800 / L-3670 (3%)
2020: Red Candle. O-8520 / L-3860 (55%)
Average Dip: 24%
Consecutive Green Months:
9/15-12/15: 4
9/16-12/16: 4
4/17-8/17: 4
9/17-12/17: 3
2/19-6/19: 5
10/20-2/21: 5
Average Run: 4.2 Months
We’re coming off 5 great months, and we’d be fools not to consider the possibility that history will rhyme once again. Expect another Bloody March. It looks like February will close around 47,000. Should that be the case, and the average holds, BTC might slip down around 36,000, which is an oft mentioned resistance level.
Now, you might say, what does a little bit of historical trivia have to do with the here and now?
Well… the 1D MACD is in the throes of a sharp breakdown, and the RSI still has half an oscillation left. And — we’ve yet to truly test the bottom regression line.
Just something to consider as we stumble into Bloody March.
March is hard on Bitcoin, and we’re nigh upon it.
Some stats:
March Bloody March
2015: Red Candle. O-255 / L-235 (8%)
2016: Red Candle. O-435 / L-380 (13%)
2017: Red Candle. O-1200 / L-890 (26%)
2018: Red Candle. O-10300 / L-6600 (36%)
2019: Green Candle. O-3800 / L-3670 (3%)
2020: Red Candle. O-8520 / L-3860 (55%)
Average Dip: 24%
Consecutive Green Months:
9/15-12/15: 4
9/16-12/16: 4
4/17-8/17: 4
9/17-12/17: 3
2/19-6/19: 5
10/20-2/21: 5
Average Run: 4.2 Months
We’re coming off 5 great months, and we’d be fools not to consider the possibility that history will rhyme once again. Expect another Bloody March. It looks like February will close around 47,000. Should that be the case, and the average holds, BTC might slip down around 36,000, which is an oft mentioned resistance level.
Now, you might say, what does a little bit of historical trivia have to do with the here and now?
Well… the 1D MACD is in the throes of a sharp breakdown, and the RSI still has half an oscillation left. And — we’ve yet to truly test the bottom regression line.
Just something to consider as we stumble into Bloody March.
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