BITCOIN Just flashed the strongest Buy Signal of the Bull Cycle!

26 июн.

Bitcoin (BTCUSD) turned oversold on its 1D RSI on Monday and yesterday immediately rebounded back above the 30.00 RSI oversold barrier. The previous 3 times it did that exact same sequence since November 09 2022, it was an indication that the bottom was formed and a structured rise / Channel Up would follow.

Technically we can claim that this is the strongest/ most consistent Buy Signal of the whole Bull Cycle so far. Those 3 times turned out to be the most optimal long-term buy entries for investors that buy on dips.

The Gaussian Channel shows that at worst, we are looking at a bottom formation process/ consolidation of another 2 months (as BTC did from August 17 2023 to October 16 2023) but the upside on this Fibonacci Channel Up is significant, with a repeat of the lowest % rise these past 2 years (+91.05%) giving us a minimum Target of $110000.

Do you agree with that? Feel free to let us know in the comments section below!

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