This Indicator's Never Failed In Timing Bitcoin Bottoms: Here's What You Need To Know!

What's up everybody, this is going to be a video discussing the possibility that the bottom is already in and the fact that Bitcoin is probably going to pump and we're going to be starting another bull trend. So we're going to discuss that possibility. So to kick things off immediately, there's a couple of things that I want to discuss. Firstly, I'm going to bring up this thing called a mean reversion channel, and this tool is especially useful for Bitcoin because historically speaking Every single time that the price has touched the bottom band of the mean reversion channel, such as there, there, and currently we just touched it and we found the bottom exactly, exactly at the mean reversion band. So now the reason why I like this tool so much is because every single time when we have touched the bottom band, for example there, for example there, and for example there, every single time you have rebounded to touch the top band, right? That's one. That's two, that's three. Like for example, you know you touched the top band multiple times, but still it cannot be understated that the accuracy of this particular indicator is really really high. And the reason for that is because that this indicator is designed based on basically math, and it's hard to argue against math when it comes to trading because it's such an objective measure of what the price is going to do. Now I'm going to discuss whether or not this is like the bottom or not, but the odds. Historically speaking, are really good. Only one time where this indicator has failed to touch the top band is in fact the most recent dump back in early 2022, which was 3 to 4 months ago. So you can see that once you touch the bottom band, you indeed went to retest the mid band or maybe even like the 75% of the band, but you did not touch the top band. So could this time be any different? And we're gonna discuss that possibility. So immediately right off the bat, you wanna pay attention to this order block right here. Now, this is a level that I discussed in yesterday's video about the bear flag that Bitcoin is currently in, right? For example, this right here is a bear flag, and I discussed the possibility of this playing out all the way back to $20K. So make sure you watch that video if you wanna get just some kind of an idea as to what I'm thinking about that. And the answer may shock you. You'd still want to watch that video because it gives you a very fundamental understanding of how the markets like to move. and how I am able to predict basically where the tops and bottoms are. So check out that video. For now, let's get back into this video in particular. And you can see that price is currently in a daily bullish order block. Now, I want you to look at it this way. During this entire pump upwards, you have left behind an area of imbalance. And when I talk about areas of imbalance, I'm talking about this right here, right? This, where if you look from this point onwards, there is zero price action in this block right here until you reach into this point. And currently, even after this point, you still had an area of imbalance right there. So currently during this down move, you have just filled in the imbalance back into the order block. And the order block, just think of it as institutional areas of value. If there are these funds or institutions that want to get into Bitcoin, this is where they're gonna do the majority of their buying. So currently price is in an area of value on the daily chart. Besides that, another reason that I believe that probability of Bitcoin being close to the bottom instead of having one more leg down Has to do with Bitcoin volatility. Now, this chart that I'm looking at right now is called the Bitcoin Historical Volatility Index, and I like to use this to determine when a liquidation event is over. For example, every time the Bitcoin Volatility Index goes to, say, 8 points, which is, you know, which can be treated as resistance, that tends to be the end of that move. For example, when back in December 2021 we had this massive spike on Bitcoin volatility, you can see Exactly the point where the price stopped dumping. So at the moment, we have not been at such a high level on Bitcoin volatility since December 2021, which is half a year ago. So in the event that, say, since considering that 9 points on Bitcoin volatility is a very key resistance, assuming that price goes back to 9 points, it would only put Bitcoin price at give or take $29K to $30K, which lines up with the bottom zone that I'm giving you. And secondly, in the event that Bitcoin volatility goes to December 2021 levels, which is unprecedented by the way. This is different than December 2021 because for those of you who were in the markets 6 months ago, you remember that this was the point when Bitcoin was at $69K. So those were all-time high prices. So to say that this situation is the same as this one, the probability is still there, but it's not really high. So granted that, you know, even if Bitcoin does go to 12 points on the Bitcoin Volatility Index, then that would put Bitcoin basically at $26K to $27K, maybe $25K. And once that happens, there is going to be a massive, massive rebound on Bitcoin. So keep these levels in mind, right? Basically $29K, $30K, maybe $28K— yeah, $28K— and basically $27K, $26K. If you get Bitcoin at any of these prices, you know, you're going to do well. And you know, the bottom's closer than you think, basically. That's all I'm saying. Again, I might be wrong, But probability of Bitcoin being at its bottom zone is higher than the probability of Bitcoin having another leg down. And even if it's another leg down, it's very close to the bottom. Again, trading is a game of probability. The successful trader is simply the trader. It is more likely that Bitcoin is close to the bottom rather than dumping again. So I hope you understand where I'm coming from at the moment. Is value. If there are these funds or institutions that want to get into Bitcoin, this is where they're going to do. Majority of their buying. So currently price is in an area of value on the daily chart. And the second thing that you might want to note is the fact that price at the moment, since it was back in $40K, this is the first day in basically the last week where price has formed some kind of a bullish candle, and it is in the process of doing so. And unless we go below $30K by the end of the day, then this is very likely going to be the first green candle in quite a while, and that is a very bullish sign. Now, currently, the real question to be asked is whether or not price is going to go back to $29,250 to about $28,800, which essentially is just $29K. Is price going to revisit this low right here to take out the liquidity present underneath these levels? And the short answer is I think there is a possibility, and I think it could be yes. Now, even though I believe that price has a possibility, in fact, a good possibility of retesting these prices. I believe that price at the moment between $30,000, you know, just where it is at now between $30,000, $31,800-ish to about $29,250, that is just very good, you know, just buying prices. I don't think it's going to go much lower than $28K. If it does go below $28K, I do think that it will hold above $28K. But more importantly, this right here is the zone. So I want you to take a look at it in this way. For example, I'm just going to give you another point of confluence for Bitcoin and why I believe that prices at the moment could be very good buying opportunities. So if you take a look at the Bollinger Band at the moment on the daily chart, you can see just how far overextended we are towards the downside. So this might indicate that the downtrend is definitely coming to a close, and if there is just one more push, just one more push, I think it's just going to go slightly below $29K. So whatever the case, you know, this right here is already very close to the bottom, and it will do you well in the upcoming 6 months or so when price rebounds back to the top band to have bought here because that will be very close to like a 2x. And of course, if Bitcoin goes to like $80K or something, that's 2, 2.5x possibly. And if price does go back to like $75K or even $80K, then, you know, well, I'm sure you know how to crunch those numbers yourself. Something else that I want to talk about is this trend line right here from these lows up to basically there. And at the moment, price has wick below this trend line. So as long as price this week closes above $31,000, then we are going to get a candle close above this trend line, which means that this trend line has— is going to act as support once again. So $31K is going to be a key level that you want to look for. But basically, you know, everything basically just adds up to the fact that current prices here are really good for buying. And if you do buy here, then, you know, your targets are going to be the mid-range or even the high of the range, which is again really good money to be made by buying at these prices. Now I know it's hard to be bullish at the moment, but my viewpoint is still definitely on the bullish side, and I believe things can change a lot in the period of like 3 to 6 months when everyone could be possibly regretting the fact that they did not buy at these prices. And it doesn't change the fact also that many, many altcoins— I'm just going to give you an example. I already made a video about this, so it's going to be coming out tomorrow. For example, ATOM is in a really good buying opportunity right now. And it's not just ATOM, you know, like for example, COTI. That's a macro range high, that's a macro range low. Trading is simple, just buy the range low, sell at the range high. It's as simple as that. We've been waiting months for this one. I talked about this on a stream weeks or months back. So currently prices are in really good buying opportunities. And if you look at this other indicator, which is the on-balance volume, which is a really good indicator to determine basically just the underlying momentum of a certain asset. If you look at the OBV, you can see that this diagonal trendline has been holding as support. And currently it is looking like Bitcoin is going to find support once again at this diagonal trendline. So are things looking bullish? I mean, it's hard to feel that way, but when the more fear that you're feeling, And the more fear that the market's in, that's when you know the best buying opportunities tend to present themselves. You know, we're really close to the bottom. I don't know exactly where the bottom is going to be yet, but I can tell you like just one thing: it's you know we're close, really close. The fact that you just started to form like the first bullish candle, the fact that you're in a daily order block, yes, you know just multiple little factors. And the fact that you know I do believe that if you do wick below this area, it's going to be the bottom period. So either way, the trick I find. to being a successful swing trader or to catch, you know, bottoms is to not put too much pressure on yourself to try to catch the exact bottom. What you do is you dollar cost average into positions instead of just, you know, trying to predict the exact bottom and then going full position into that. Now, the chances of you doing that are already low, and even if you do get it, then you're really just exhausting yourself mentally a lot by trying to catch the exact bottom. So what I like to do is generally just start buying at buying zones, basically, and That tends to work out very well because you have to think about it this way. Currently, you're buying within this zone right here, and your target is going to be within this zone and that zone right there. These are really far away targets. And just to illustrate to you how far that is, that's about 58% to 100% gains. This is sort of like the trick to swing trading, is that you've built your positions at the range lows and then you sell somewhere in the mid-range or the range high. So yeah, trading's simple and you don't have to complicate it. But hopefully this video comes to you at a good time, and hopefully this allows you some confidence to start buying into these prices. I really think that you know it's going to be over soon. Tomorrow I'm going to release a video on Atom and why I believe it is really good to be buying Atom, and I'll give you the exact entries to get into it. So subscribe if you want to see more. For now, if you want to figure out where altcoins are going to be in the next three months, or whether or not altcoins at the moment is in a very good place to buy, you're going to want to check out this video. It's going to give you a macro overview of whether it is time to sell your altcoins. Or not.