When analyzing Bitcoin's market cycles using the Nupal rainbow indicator, entering the green zone on the right side of the rainbow line historically signals one final price dip before the market establishes a firm floor for the subsequent bull run, suggesting this may be the bottom of the current market cycle.
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Is Bitcoin finally hitting rock bottom? Here is what the charts say.Hinzugefügt:
They're saying, "We are at these levels right here." I'm going to ignore March 2020. I'm going to ignore COVID and look at the key levels here. So, the new pool is this rainbow line. Where we're at right here is on the right side. We're we're hitting into this green zone. When we hit the green zone last time, you see here, Bitcoin one more leg down and then that was it. Even if you start at the beginning, I mean, maybe you could say that one, but I won't count that little bit of a peekaboo there. But, looking at this, you go straight down one more level to the downside. Go to the next time we're at the 25 in this green zone, you go right here and you look at Bitcoin's price, which is this black line, it goes one more level down.
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