BTCUSD bottom may be in! Pi Cycle bottom !

Every week chart presents a new data and there are more reasons to believe that we already saw a final capitulation.

1. By now, the support´s held and the double bottom is still valid (until it breaks).

2. As we can see in the chart, Pi Cycle bottom indicator suggests that the bottom is in.

3. Moreover, RSI hit its lows in June just before Pi Cycle bottom indicator signaled that the bottom is in and it was also the case in the 2018 when the price found its absolute bottom.

4. Bitcoin Rainbow Price Chart Indicator also shows that it´s a right time to buy now. https://www.lookintobitcoin.com/charts/bitcoin-rainbow-chart/


We expect the price to consolidate for a few more weeks. If double bottom holds, we may not see lower prices and the Parabola will start.

Sentiment on social media is still very bearish. Everyone expects lower prices. It would not be surprising if market does not give us a chance to buy cheaper and many people will be left behind waiting for lower prices.

Below 20k may be a good price for a long term investment. DCA below 20k !

Kommentera:

Nothing has changed in this idea. It´s still possible!

Handel aktiv:

Double bottom still valid. Bottom may be already in.