BTC Bitcoin: Finding The Bottom
Hello friends, today I am completing a technical analysis on the 1M linear scale chart for Bitcoin (BTCUSD).
Many people are asking me on where I see the Bitcoin price bottoming out before the next possible bull run. In case you still think a bull run is going on, please wake up!
I put together the price along with the RSI, MFI, MACD and Stochastic RSI as well as including in Volume, VPVR and Fibonacci Retracement. Based on my review and analysis, I see price coming down to 3K-7K range over the next year. The MFI is worth a watch on the monthly chart as the MFI hasn't reached no where near the oversold region, which it has in the past. MACD had a bearish cross in January 2022 which I discussed in a post in February 2022. See below:
In early December 2021, I posted a chart with a "no hopium" discussion around why I think BTC is headed much lower. That was when BTC was over 56K. Since the making of the "No Hopium" Discussion post on December 2, 2021, Bitcoin price is down 45%. In number terms, if you had $100,000 in Bitcoin, you would be down to $55,000. That's a $45,000 loss. Be careful and focus on the charts rather than some of the folks that make stories to earn followers. See below:
This is a monthly chart so be patient and I don't see the next bull run until the end of 2023 into 2024. That's my personal opinion.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Many people are asking me on where I see the Bitcoin price bottoming out before the next possible bull run. In case you still think a bull run is going on, please wake up!
I put together the price along with the RSI, MFI, MACD and Stochastic RSI as well as including in Volume, VPVR and Fibonacci Retracement. Based on my review and analysis, I see price coming down to 3K-7K range over the next year. The MFI is worth a watch on the monthly chart as the MFI hasn't reached no where near the oversold region, which it has in the past. MACD had a bearish cross in January 2022 which I discussed in a post in February 2022. See below:
In early December 2021, I posted a chart with a "no hopium" discussion around why I think BTC is headed much lower. That was when BTC was over 56K. Since the making of the "No Hopium" Discussion post on December 2, 2021, Bitcoin price is down 45%. In number terms, if you had $100,000 in Bitcoin, you would be down to $55,000. That's a $45,000 loss. Be careful and focus on the charts rather than some of the folks that make stories to earn followers. See below:
This is a monthly chart so be patient and I don't see the next bull run until the end of 2023 into 2024. That's my personal opinion.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.