Bitcoin Is ABOUT TO DO SOMETHING For FIRST TIME SINCE 2015 EXPLOSION – BUT This Happens FIRST
Bitcoin Bull Run Phases
In this video, Steve discusses the phases of a Bitcoin bull run and how to identify them using indicators on a monthly chart. He explains that the first phase is characterized by price action above two indicators, and identifies key moments in previous bull runs to illustrate his points.
Identifying Phase One of the Bull Run
- On a monthly chart, price action should be above two indicators: one in the middle and one at the bottom.
- The Traders Dynamic Index (TDI) indicator at the bottom can help identify when Bitcoin enters a bull run. When the red line crosses above the green line, it's a sign that phase one of the bull run has begun.
- Another way to see phase one is through the monthly stochastic RSI cross. When it crosses above 20, it's an indication that phase one has started.
Understanding Phase One
- Phase one is quantified by the largest rally of that bear market. It takes Bitcoin out of bear territory and into bull territory.
- During this period, prices may not skyrocket immediately. In previous bull runs, there was a period where prices leveled out before moving higher.
- According to Steve's analysis of current indicators, we are currently in phase one of the current bull run.
The Importance of Indicator Support
- While Bitcoin may have crossed above certain indicators during previous years' bull runs, what matters most is whether those lines held support over time.
- In 2019, for example, Bitcoin crossed above an important indicator but ultimately failed to hold support on it. This prevented prices from reaching new highs until later.
- Currently, Bitcoin's red line is on top and prices should level out. The market may move sideways for multiple months until the red line at the bottom holds support above an orange line, indicating a move into the next phase of the bull run.
Bitcoin Above Orange Line
In this section, the speaker talks about Bitcoin and how it has gone above an orange line in a chart. The speaker promises to provide more information on this topic in future videos.
Bitcoin's Position in the Chart
- Bitcoin has gone above an orange line in the chart.
- The speaker promises to provide more information on this topic in future videos.
Conclusion
This section is very short and does not contain any new information.
Final Thoughts
- The section contains no new information.
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