Bitcoin hit 3 on-chain conditions that showed up near every past bear market low since 2015.
This is not a "buy now" call of course. It marks the zone where bottoms usually form.The checklist:1. Underwater supply > profitable supply2. Price at 200 week MA ($61.3K)3. Long term holders accumulating againAll 3 are live this week.After prior crossovers:2015: ~12 months in zone2019/2022: ~6 monthsMar 2020: ~1 monthLows often came within weeks, but usually after one final 15 to 26% drop first. This event may not have happened yet. Levels to watch:200W MA: $61.3KRealized price: ~$54KYears horizon: accumulation zone.Weeks horizon: wait for the final leg.Map. Not a buy button.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments