Bitcoin just had a massive bear market rally of 32 percent in a matter of a few days. So, are we going to see a really big retracement and head to new lows, or did we just experience the bottom of the Bitcoin bear market? Well, in this video, I’m going to give you my personal opinion, of course, backed by data. You might as well call me “Data Dan,” because in this video, I’m going to show you the data which is right here, right meow!
Firstly, if we look at the lengths of the bear market, it’s been very coincidental for some reason. All right from the bottom of the bear market or from the top to the bottom in 2015, 378 days. OK, what happened next time? From 2017 to 2018, 378 days. And now, what just happened with the FTX news where we bottomed at 15.5k? Well, that was 378 days. You can see we had a 115x rally the first year, or not the first year, but the first true real Bitcoin bull market. And then, from 2018 all the way up until we had the top in 2021, we had a 20x return from the bottom to the top. So, obviously, if you’re coming anywhere close to timing the bottom of the Bitcoin bear market, you’re probably going to do pretty decent in the next run-up that Bitcoin has. And I think it’s very, very interesting to see that it’s almost the exact bottom to the day.
So, the length of time is looking like we did just bottom on that FTX news a few months ago. Now, if we look at it on a technical level and we look at something like the RSI, let’s go ahead and take a look at the RSI first and foremost. When we see the RSI go past this mid-level of 50, okay, and sustain that for a bit, then we see, once it officially breaks this really big downtrend, it starts to have higher lows and higher highs. That has been the bottom of the bear market, even if we look back here in 2015 as well. Same thing, sustained run all the way down, well below the 50, even close to the 30, here. And then you see that, once you start to have higher lows and higher highs, that has actually been right after the bottom for that market in Bitcoin. So, you can see the bottom is right here, and we started to have higher highs and higher lows, right in here in that bottoming section, that U-shaped section. Same thing in 2018, same exact thing. Now, what happened? Same exact thing this year. We actually started from all the way back in February of 2021, where we had lower highs and lower lows in a more bear market trend. Then, once you see that we broke that, right around the 15.5k level, and we actually started to have bullish divergence all the way back from June, which is when the whole Celsius debacle…
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