Hello all,
Pretty straightforward thesis: Going over historical patterns...BTC has shown CCI divergence 3x on the weekly chart. Each of those three occasions was marked by a protected downtrend. Assuming the bears can hold back the current bull rally for the rest of the week, I'm forecasting we have one more move downward before the next bull cycle.
The monthly BTC chart has not shown any bullish divergence (regular or hidden) yet which has been indicative of a long term moves upwards. While conditions for BTC have gotten increasingly positive in the last week...I'm holding off calling it game over for the bears.
Pretty straightforward thesis: Going over historical patterns...BTC has shown CCI divergence 3x on the weekly chart. Each of those three occasions was marked by a protected downtrend. Assuming the bears can hold back the current bull rally for the rest of the week, I'm forecasting we have one more move downward before the next bull cycle.
The monthly BTC chart has not shown any bullish divergence (regular or hidden) yet which has been indicative of a long term moves upwards. While conditions for BTC have gotten increasingly positive in the last week...I'm holding off calling it game over for the bears.
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CCI previous hidden divergence
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Divergence Monthly Indicators
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Furthermore, while we remain in the channel BTC has been in for the past 10 years, we are at the BOTTOM of the channel. Failure to bounce at these levels would bring us to parts unknown.
