This study looks at yet another indicator on the long term (monthly) chart, the ADX, which in full agreement with Bitcoin's market cycle dynamics, shows the potential of a lengthy consolidation period.
More specifically, during the last bear cycle (2014/2015) DI+ (representing buying pressure in green) crossed with DI- (representing selling pressure in red) between January and September 2015 and kept BTCUSD ranged in a consolidation phase. That was known as the accumulation phase that was the necessary step, paving the way for the next bullish run.
We may have a similar situation at hand with the two indicators close to crossing again. Will Bitcoin enter a new consolidation period?
See more insight on how those market phases shape Bitcoin's cycle dynamics to better understand the current study:
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More specifically, during the last bear cycle (2014/2015) DI+ (representing buying pressure in green) crossed with DI- (representing selling pressure in red) between January and September 2015 and kept BTCUSD ranged in a consolidation phase. That was known as the accumulation phase that was the necessary step, paving the way for the next bullish run.
We may have a similar situation at hand with the two indicators close to crossing again. Will Bitcoin enter a new consolidation period?
See more insight on how those market phases shape Bitcoin's cycle dynamics to better understand the current study:
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
