Bitcoin Preparing It’s Next ~25% Move In May [price statistics]
Welcome back to the era of Crown Crypto Channel
Welcome back to the era Crown Crypto Channel, where we provide comprehensive analysis and insights into the world of cryptocurrencies. In this article, we will be discussing the higher term timeframe picture and how recent developments have influenced the long-term analysis. We will also touch upon some exciting promotions and updates in the crypto world. So, let’s dive in!
The Bi-Monthly and Quarterly Analysis
Let’s start by analyzing the bi-monthly and quarterly timeframes. The recent closures in these timeframes have revealed some interesting trends. Firstly, the bi-monthly RSI has shown hidden bullish evidence, indicating a potential upside move. This hidden bullish divergence has been observed in previous lows as well, suggesting a continuation of the trend. Additionally, the bi-monthly volatility, represented by the BBWP indicator, is at a low point. Historically, such low volatility levels have preceded significant upside moves. This could indicate that we might see a substantial upward movement in the next two months.
Furthermore, the bi-monthly Jewel light has turned white, signaling a decrease in downside pressure. This supports the notion that Bitcoin has reached its macro lows and is ready for an upward trend. As long as Bitcoin remains above the $20,000 to $21,000 range, it is unlikely to see lower lows. The quarterly timeframe also aligns with this analysis, showing hidden bullish evidence and agreement with the bi-monthly and monthly timeframes.
The Potential for Volatility Expansion
Another interesting development to watch out for is the potential for volatility expansion. The two-day volatility, represented by the BBWP indicator, is currently at extreme lows. In the past, when volatility has reached such levels and started to expand, it has led to significant moves in the same direction as the stochastic oscillator. While volatility expansion has not occurred yet, it is something to keep an eye on. If the two-day BBWP starts to slope positively and crosses above the moving average, it could indicate a high probability of an upward move. On the other hand, if it turns downwards, it may suggest a potential downside move.
The Monthly Analysis and Breakout Potential
The recent monthly closure has shown positive signs for Bitcoin. The stochastic oscillator has closed above the critical zone and the moving average, indicating a potential breakout to the upside. In the past, such crossovers have preceded significant upward moves. If Bitcoin closes above $29,000 on the next closure, it would confirm the upside potential. On the flip side, a close below $27,000 could change the overall picture and lead to a retest of the $20,000 to $21,000 range.
The Relationship Between Halvings and Market Trends
It is worth noting the relationship between Bitcoin halvings and market trends. Historically, about a year before each halving, Bitcoin has broken out of its long-term downtrend and experienced a significant rally followed by a crash. This pattern has repeated itself in previous halvings, and we are currently seeing a similar setup. Bitcoin broke above the long-term downtrend about 66 weeks before the estimated halving date. This suggests that Bitcoin may continue its rally in the coming weeks, potentially reaching new highs. However, it is important to be prepared for a significant correction afterward, as history has shown.
The Pie Cycle High and Low Chart
The Pie Cycle High and Low Chart has been a reliable indicator of Bitcoin’s market cycles. It has accurately predicted Bitcoin’s tops and bottoms in the past. Currently, the weekly moving averages have crossed, with the yellow line above the green line and both above the red line. This indicates a potential long-term base and sets the stage for an upward trend. The green moving average, currently at $25,000, could be a significant support level during pullbacks.
Conclusion
In conclusion, the higher term timeframe analysis suggests that Bitcoin is poised for an upward move. The convergence of various indicators, such as hidden bullish evidence, volatility expansion potential, and the crossing of moving averages, point towards a positive outlook. However, it is important to monitor key levels and be prepared for potential corrections along the way. As always, it is crucial to conduct your own research and make informed decisions.
Frequently Asked Questions
Q: What is the significance of the bi-monthly and quarterly closures?
The bi-monthly and quarterly closures provide insights into the longer-term trends of Bitcoin. These closures reveal hidden bullish evidence and volatility levels, which can indicate potential upside moves. They also help confirm the overall market direction and provide a basis for analysis.
Q: How does volatility expansion affect Bitcoin’s price?
Volatility expansion often precedes significant moves in Bitcoin’s price. When volatility reaches extreme lows and starts to expand, it can indicate a period of increased market activity. This expansion can lead to substantial price movements in the same direction as the stochastic oscillator.
Q: What is the relationship between Bitcoin halvings and market trends?
Bitcoin halvings, which occur approximately every four years, have historically been associated with significant market trends. About a year before each halving, Bitcoin tends to break out of its long-term downtrend and experience a rally followed by a crash. This pattern suggests that Bitcoin may continue its rally in the coming weeks, but a significant correction should be expected afterward.
Q: How reliable is the Pie Cycle High and Low Chart?
The Pie Cycle High and Low Chart has been a reliable indicator of Bitcoin’s market cycles. It has accurately predicted Bitcoin’s tops and bottoms in the past. The crossing of moving averages, as seen in the chart, indicates a potential long-term base and sets the stage for an upward trend.
Q: Should I solely rely on these indicators for my investment decisions?
While these indicators provide valuable insights, it is important to conduct thorough research and consider multiple factors before making investment decisions. These indicators should be used as part of a comprehensive analysis and not as the sole basis for investment choices.
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