A good way to look at BTC's intra cycle swings within BTC's Macro Bull / Bear / Re-Accumulation zones is to look at BTC using Heikin Ashi Candles on the Weekly Time Frames (W-TF).
This show clearly we have been in a down trend since November 2021.
A lot of CT (Crypto Twitter) is bearish long term atm.
I have added the 100 Weekly SMA (Orange Line) and the 200 Weekly SMA (Green Line) on the chart as these have been historically support SMAs during BTC bear markets. Personally at this stage I don't believe we are entering into a 'bear market' zone (as measured by BTC's halving's).
I have also included the Ichmoku (IM) weekly cloud to show how it looks historically at the top of a BTC cycle (as measured by the halving's) - NOTE: light grey indicates the IM cloud is currently showing support.
Eventually this down trend will reside, but whether it will be a trend reversal or a relief rally, historically the change in colour of the weekly Heikin Ashi Candle has indicated a sustain change in trend (not financial advice, use with confluence of other TA and indicators / ideas).
If you want to understand better Heikin Ashi Candles and how they can be used, read the following Investopedia article www.investopedia.com...-better-candlestick/
This show clearly we have been in a down trend since November 2021.
A lot of CT (Crypto Twitter) is bearish long term atm.
I have added the 100 Weekly SMA (Orange Line) and the 200 Weekly SMA (Green Line) on the chart as these have been historically support SMAs during BTC bear markets. Personally at this stage I don't believe we are entering into a 'bear market' zone (as measured by BTC's halving's).
I have also included the Ichmoku (IM) weekly cloud to show how it looks historically at the top of a BTC cycle (as measured by the halving's) - NOTE: light grey indicates the IM cloud is currently showing support.
Eventually this down trend will reside, but whether it will be a trend reversal or a relief rally, historically the change in colour of the weekly Heikin Ashi Candle has indicated a sustain change in trend (not financial advice, use with confluence of other TA and indicators / ideas).
If you want to understand better Heikin Ashi Candles and how they can be used, read the following Investopedia article www.investopedia.com...-better-candlestick/
