CryptoMainly

Fed up with Gold bugs continually saying what a great store of value Gold is compared to Bitcoin.Let's take a look when we consider the M2 classification of monetary supply (inflated money supply adjusted value)

🚨PLEASE PAY ATTENTION❤️BTC - Bitcoin 3Day 2018 RSi comparison Please keep an eye on the RSi on the 3 Day timeframe, you will note that it is currently at a level comparable with the Nov 2018 breakdown (which resulted in a 52.09% downside move). I have marked the 2018 RSi breakdown level in turquoise at 43.67 and you will note we are currently below at 42.14.As you can see, there is also a similar lower high scenario on the RSi which I have also marked on the chart.Beware if you see the RSi break below 41.44 (marked in Red) as that would be the confirmation, the downside move is coming and it will be significant!Also, note the timeframe between ATH and the breakdown! 😳🙈RSi only - zoomed in FYI

A Powerful and highly accurate indicator has now fired on the Bitcoin chart - The Hash Ribbon Indicator The history of the Hash Ribbon indicator provides and interesting insight in the potential Bullish move that could be just around the corner.As you can see from the chart, the indicator does not necessarily mean the bottom is definitely in, but it is fair to say we are very close!Let's hope the world markets do not spoil the party...... China needs to bounce and find support here or else!

Interesting to see, every time the the Bull Market support band crosses below the 50SMA, there is a correction in excess of 55% and even up to as much as 70%The depth of the correction appears to be becoming more shallow as the Market maturesETH / BTC losing key support suggesting the downward pressure will continue and Alts are not the place to be for the coming weeks

Several signs suggest we are already at or close to a temporary bottom.The low Bitcoin prices at $22-$24K range are not due until towards the end of this year according to previous cycle comparisons! Summer Alt Season followed by actual capitulation year end is my opinion.Watch for everyone being super Bullish as we get back above the Bull Market support band, bounce along it as if it will hold as support before the big rejection from the 200SMA after the Summer Alt season.

Alt Season still shaping up nicely for the summer in my opinion.

Interesting to see the downward pressure building - are the sellers exhausted or will support be broken?I think the capitulation candle is near and it will be nice to see it over and done with.Classic Wyckoff Accumulation in effect right now, collecting up the liquidity from the Short AND the long positions before lifting off into the Summer Alt Season :-DTrade carefully right now! Patience will be rewarded imo

Whilst I still believe we will have a nice Summer Alt Season, the back end of the year is looking to create new lows before the start of the next cycle and lead up to the next halving which is currently estimated as May 2024.Trade carefully all, any pumps will be short lived with a max of $56K-$58K followed by the decline.. In the summer Alt Season - Take profits and buy something real x

AXS - breaking out 👀 Next Bullish move incoming New price target on the chart

Please see my Youtube video for further clarification Bitcoin Back Testing - RSi Daily TFTake a look at what has happened throughout the recent season of highs $65K and $69K when the Rsi approaches or crosses the red dotted line on the chart indicator, then compare where we are now 👀😬Please protect yourself and buy back in at a discount 😉