Statistically looking at BTC history. Much love!Hey everyone,
We are all going through some unfortunate times with plenty to talk about. That being said, I hope everyone is safe and enjoying themselves.
Needless to say, I've noticed a specific trend. When I started to look at the weekly chart, I zoomed out in an attempt to validate my current trade. When I did that, I ended up going through a rabbit hole full of data. I flirted with taking a look at the dumpiest places ever, almost like my search for every apartment in LA. Needless to say, I saw two statistics that coincide with one another. If you take a look at the monthly chart, there are two statistics that stand out the most - January 12 '15, and December 10 '18. At those infliction points, we were completely oversold. It took approximately 1,428 days to go into the oversold department starting Jan 12 '15. If we use the same calculation, things seem to start processing into existence, starting from December 10 '18. Fast forward to today, we can see that another 1,428 days land on Nov 7 '22. I believe that the bear market will end and that point.
No one times the market. Take a break and hug the people you love.
Happy trading.
