Bitcoin is in the bear market! This 10 years trendline proves

2023年9月12日

Take a look at this chart.

In this chart, we can see a 10-year trendline from 2013 to today.

Every time the price is above the line, Bitcoin is in a bull market, and every time it is under we have a bear market.

The cyan vertical and horizontal lines mark the cycle tops that usually become support.

The red horizontal and vertical lines mark the cycles' low and when the price breaks down the trendline.

The orange circles mark the area where Bitcoin is testing resistance and support on the trendline.

According to this chart, we can expect this cycle's ATH around 160K in September 2025 but we will only enter the first phase of the bull when we cross above the trendline.

2023年9月12日

ノート

Now you should be asking why I said September 2025 for this cycle's ATH.

Check here:

2023年9月12日

ノート

This cycle could be mimicking the 2014/2017 fractal where Bitcoin stayed below the trendline for 125 weeks as you can see here in these gray circles and the yellow vertical lines. (I cloned 2015/2017 to the current cycle).

If history repeats, the reverse movement breaking the trendline resistance will only happen in October 2024.

2023年11月27日

ノート

Still in the bear market as we have not even tested the 10 years trendline.

2023年12月4日

ノート

Bitcoin is almost there to test the 10-year trendline. Expect some rejection but once we break it... brace yourselves!

2023年12月24日

ノート

Still below the trendline but almost getting there

2023年12月29日

ノート

Still in the bear market. Bull run only after breaking this trendline

3月5日

ノート

Finally parabolic. Officially broken through the 10 year trendline

8月12日

ノート

As we can see - even after a parabolic move earlier this year, Bitcoin price got pushed below the 10-year trendline.

As you can see in this box Bitcoin held it as support for a few months between February and July, broke below it, retested resistance and Bitcoin is again trading under it.

This is the real battle between the bulls and the bears.