#BTC peaks compared to the Chicago Fed’s National Financial Conditions Index (NFCI): Negative values historically indicate looser-than-average financial conditions. All 5 #BTC peaks occurred with NFCI values below -0.6. Currently, the NFCI is at -0.53. 👀
MACD bullish crossover on Bitcoin's weekly chart. (pending)
Most will call this the bottom.
Chart history says otherwise. When this crossover fires in deep bearish territory, divergence typically follows.
Translation: price goes lower first.
The crossover is the setup, not the signal. Wait for confirmation.
@CryptoTraalala@IncomeSharks I mean c'mon, of course you can fake volume short term to distort OBV via wash trading, but on the daily chart over a long period across all exchanges? The costs of doing so would far exceed the benefit.
@CryptoTraalala@IncomeSharks That's the whole point of OBV. Prices can be manipulated, volume can’t. If price rises artificially on low volume, OBV won’t follow. Same on the downside. When price moves with real volume, OBV confirms the move.
@IncomeSharks Everyone keeps saying “everyone’s bearish” and treats that as a bullish signal, but if everyone is calling “everyone bearish” to justify being bullish, then in reality, everyone’s still bullish
@RaoulGMI Has anyone considered we might already be in a bear market?
BTC/EUR topped in January, most alts are down 50%+ since then.
Last cycle, nobody realized it was a bear until the May 22 crash. ETH bottomed in June, BTC only did a final sweep in November.
Feels like déjà vu brewing.