We have done a more in-depth long term technical analysis going back to the beginning of 2016, and we can see that:
- Moving Average 100 has predicted the bottom of every correctional cycle in bitcoin minus 1.
- Williams Bottom Finder (CM_Williams_Vix_Fix) has signalled the bottom along with MA and is correct around 75% of the time.
- Advanced MACD has done the same, although it is a little harder to see early in the year since it is much more volatile now.
- RSI overbought zone has signaled the top of all impulse waves. You can see this with the vertical lines charted correspondingly with Bitcoin Tops.
Stay on the lookout for similar indications as they have proven to be reliable predictors of Bitcoins price action.
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http://thecryptolabs.com
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