- January 18, 2023
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
Exactly 2 months ago right after the FTX aftermath, we posted an alternative analysis using a not so popular indicator, the Bollinger Bands Width (BBW):
For a broader perspective, that was in combination with the Fib MAs as the MA350 (green trend-line) offered Support. As this held and the BBW rebounded, we mentioned then (which was a time of fear and panic in the market) that this was a sign of a bottom formation, similar to all prior Cycles (indicated by the circles).
The BBW delivered this beautifully and now Bitcoin has broken all the Bear Cycle Resistances and has technically entered its new Bull Cycle.
This time we add a few extra elements to the BBW. Number (2) is where the BBW starts to rise and picks, which officially starts the first rally of the Cycle. This means that you should keep an (very) close eye to the BBW in the next few weeks, as a potential surge will be the 2nd best buy entry that the new Bull Cycle will offer.
Are you waiting for this or any other signal to buy or are have you already in? Feel free to let me know in the comments section below!