Bitcoin: The Bottom Is Not In

Three charts. One answer.

Hey everyone, welcome back to another issue of the indicator. This week I'm connecting the dots between three charts that are all saying the same thing. If you only follow one of my posts, this is the issue that ties them all together.

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Bitcoin

Three posts. One thesis. Let me walk you through it.

The Halving Clock

We are now 720+ days past the April 2024 halving. Historically, Bitcoin has never peaked beyond 550 days post-halving. Every cycle. No exceptions. We are well past that window and the math does not favor new highs from here.

The Weekly MACD

A bullish MACD crossover just fired on Bitcoin's weekly chart. Most people will call this the bottom. Chart history says otherwise. When this crossover fires in deep bearish territory, divergence typically follows. Translation: price goes lower first. The crossover is the setup, not the signal. Wait for confirmation.

The On-Chain Picture

In every bull market, price goes multiple standard deviations above the average buy price. In every bear market, the average buy price trends downward and price comes back to retest it. Then it goes below it. 2014. 2018. 2022. Same pattern every time. We have not retested it yet. The average buy price sits near $52,939.

Bitcoin is sitting at $72,200 right now. That is a long way from $52,939.

Bitcoin Halving Clock

On Chain Data: Average Buy Price: $52,939

Weekly MACD Bullish Crossover In Bearish Territory

THIS WEEK’S VIDEO

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YOU MAY HAVE MISSED THIS CHART

This post hit 25,000 impressions this week. If you missed it, study the chart. The levels are marked.

Several other reasons why this local Bitcoin top will continue to turn into “the top”. Some of those reasons are a pending 2-week RSI sell signal, pending MACD bearish crossover on the monthly chart, price being multiple standard deviations away from the 200-week moving average, and-timing-wise-we’ve been in a bull run since January 2023.

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Disclaimer

The contents of this newsletter are expressed in my opinion only, none of which is financial advice. Always do your own research as this information is intended for educational & entertainment purposes only.

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