Bitcoin in front of trading graph, text asking if we have reached bottom yet?

Haw we reached Bitcoin bottom yet? Let´s take a look at the data

By Patch | Things of note and other interesting stuff | 18 Jun 2022

Let us take a look at the Bitcoin charts and see if we can get some information about what is going on. Will we continue to plummet or have we reached the bottom now?

And as always, if you think this is financial advice then I got some sad news for you. You should never take the advice from some random guy on the internet, always do your own research.

What do the data say about Bitcoin?

When we look at bitcoin, we can see that there have been two previous three day death crosses before the one that we just had. One in 2015 and one in 2018. What can these previous events say about our current one?

Well in 2025 the three day death cross happens days before we hit market bottom. And in 2018 we hit market bottom at the same time as the cross happened. What if we now take a look at the current cross. Well, we just hit the current three day death cross. But with only two previous data points to use as reference, I would say it is too early to celebrate yet.

It could very well be one of those fakeouts where the data signals one thing but it is not a well-established pattern yet so it can end up doing the opposite.

We need more data

Is there any more data we can look at then, and see what it tells us? Well, we can take a look at the four day death cross as well. Historically we have had two of these crosses, one in 2015 and one in 2019. And what is interesting about them is that on both occasions they have happened after we have hit market bottom.

If we take a closer look we can see that in 2015 the cross happened 40 days after we hit market bottom. In 2019 it happened about 46 days after. And if we take a look at the charts we can see that we are about to have a third four day death cross. And this will happen in roughly 40 days. According to projections.

Adding it all up

Wen, we then add all these things up it is starting to paint a better-looking picture. While the sun is still behind the clouds hiding. It has at least stopped raining.

But I still think it is a bit early to celebrate. But I do think it is time we stopped sulking. Because I can hear the bulls getting ready to start running soon.

But what if we continue to fall, then what?

Well if we continue to fall there is not much support or structure to keep the price up. And we will likely continue to fall to a price of around $13000. But again that is much bigger if now with these signs showing a possible bottom.

I hope that you have found this post informative and useful. And if you take any part of it as advice do so at your own risk. What is your thought on this, haw we reached the bottom yet, or will we continue to fall? Please share your thoughts in the comments down below.

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