Bitcoin (BTCUSD) practically continues its 2-month consolidation from the early February Low and so far, as long as the 1D MA200 (orange trend-line) holds, it only serves as a re-accumulation Phase for the next Low.
The big question is, where this might be. The Cumulative Value Days Destroyed (CVDD, green trend-line) indicator is currently at $49280 and has been a very reliable metric for buying near Bear Cycle bottoms as every time since 2014 it has been touched, BTC bottomed a little lower. The 1D MA200 has been the confirmation buy follow-up as when it historically broke following a CVDD test, the new Bull Cycle had started.
So the CVDD matches very well numerous projections we've made on a potential Bear Cycle bottom and in fact seems to be at the top of a projected Buy Zone.
Do you think that's reliable? Feel free to let us know in the comments section below!
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The big question is, where this might be. The Cumulative Value Days Destroyed (CVDD, green trend-line) indicator is currently at $49280 and has been a very reliable metric for buying near Bear Cycle bottoms as every time since 2014 it has been touched, BTC bottomed a little lower. The 1D MA200 has been the confirmation buy follow-up as when it historically broke following a CVDD test, the new Bull Cycle had started.
So the CVDD matches very well numerous projections we've made on a potential Bear Cycle bottom and in fact seems to be at the top of a projected Buy Zone.
Do you think that's reliable? Feel free to let us know in the comments section below!
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.