Bitcoin bounced right at the bottom of the weekly Ichimoku cloud The fact that this area was on the chart 26 weeks ago never fails to astound me A close below is further bear market confirmation
In a bull market, when Bitcoin reaches overbought on the RSI, it usually means extreme strength and the largest gains In a bear market, when Bitcoin reaches oversold on the RSI… If you’re wondering why we haven’t bounced yet, that’s why We have extreme sell pressure
This is absolutely fascinating Top chart is Bitcoin 3W since 2013 in an uptrend channel w/ a wave 3 overthrow Bottom chart is Bitcoin 3D since 2023 in an uptrend channel w/ a wave 3 overthrow Every top and bottom is in sync and price even turns bullish/bearish and/or passes through the median around the same times Tops are precisely synchronized, but why?