BITCOIN SIGNALS SHOW BOTTOM IS CLOSE! RIPPLE CEO CALLS OUT MICHAEL SAYLOR STRATEGY!

**Tony Edward** (0:05)
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All right folks, we gotta talk about the price of Bitcoin and what's happening in the crypto market because we have some updated metrics and signals on the charts that you need to know about. I believe we are close to the bottom if the bottom is not already in. Obviously, no one can call the exact moment, but we can look at the signals, things that have appeared in the past bear market bottoms and see if those signals are flashing right now. So Bitcoin at the time are recording just below $60,000 at $59,606.
The RSI in the daily chart is right near the oversold levels. It's not extremely oversold like it was about a month ago, but it's hovering around that oversold zone.
The MACD has slightly flipped bearish, but that looks like it's just hanging by the thread where it can easily flip back. But so we're going to have to wait and see what this week brings us. And as I've been highlighting to you guys, there is a bullish divergence forming on the weekly chart. So we've seen this in all the bear market bottoms, that that is a signal that you want to look for that a reversal is coming soon. Now, the important nuance here is that even if a bullish divergence is forming on the weekly chart RSI, the price can still go down. We saw that clearly in 2022 So despite the higher highs on the RSI, you're seeing lower lows on the price. Now, the question is, has that been completed here for Bitcoin? Maybe not. Maybe there's another flush down to the low 50s, right? I'm not saying that's guaranteed or that's a certainty, but it's certainly a possibility you can't rule out. But nevertheless, the majority of the downside is completed, in my opinion, because we're seeing this signal. And the inverse of that, guys, is the USDT stablecoin dominance. That is forming a bearish divergence. Many of you know that when this is going down, that means the liquidity is coming into the crypto market. When it's going up, it means crypto is being sold off and the liquidity is making its way back to stablecoin. So specifically looking at tether dominance on the weekly chart, we see a bearish divergence forming. Higher highs on that and then lower lows on the RSI. And this is on the weekly. So you can go pull these charts up and look at it yourself, guys. It's the same pattern that we've seen historically. So we are seeing the respective signs. And this is why I've been saying I'm buying the dips. I'm buying all coins specifically, you know, XRP and others. And that's not financial advice. I'm not telling you have to follow me, but I'm just sharing my journey of what I'm doing. Obviously, do your own research, right? But I'm clearly showing data. I'm sharing data here with you guys, not my feelings or emotions, but rather what are we seeing on the charts? Now, if we look at the monthly chart, the RSI is at the levels we've seen it in the previous bear markets. So that's a very good sign. Now, the monthly takes a long time to update because it's a higher timeframe. And the MACD is making its way down towards that level where it's not far away from flipping bullish. Now, when I say it's not far away, I'm talking within the, let's say, the next four to six months. So please understand the context here when we're talking about the higher timeframe. But again, all of these things are lining up to what we've seen in the past. Here's a great signal that blockchain backer, the analyst shared.
He says, front-running this narrative before crypto Twitter starts, moving averages are helpful on the way down as Bitcoin acts the same every time. 100-week holds then breaks. However, death cross of the moving averages historically means nothing except we're at the bottom. So the same death cross that we've had in the past and bear market bottoms is flashing right now.
So when you look at the confluence of all of these factors, not just one, not just two, but multiple, it's screaming that the bottom is near, if not already in. And I can definitively say the bottom is absolutely in because you need time, you need the market to show confirmation, right? But we are seeing the breadcrumbs that are leading to that. The other factor which I shared from other analysts, but also blockchain backers share this, is that a lot of the Bitcoin out there is under water and it's at the same levels that we've seen in the previous bear market bottoms, whether that be 2022, 2018 and so on and so forth. So we're seeing the max pain here for that. Here's another signal, every time Bitcoin close two red six-month candles in a row, it was followed by a three-year uptrend. Two red six-month Bitcoin candle closes in two days. Obviously, June wraps up in a couple of days. And the analyst Cyclops says, you know what that means. So this is very much in the higher, higher time frame, right? Doesn't mean it must repeat that way. So please understand me. But it's another signal, again, in the confluence of factors that we want to look at. We don't want to look at just one. We want to look at multiple. And these are all signaling that the bottom is closed, if not already in. So that's why I'm personally accumulating.