BTC Cup & Handle - Macro Trends

Aug 5, 2024

BTC Thesis:

1. Bear Trend is nearing 3 year range (1000+ day range)\
   
   
2. RSI After Quick Dump: In the Low 30s nearing 20s - Historically this is a hot spot for a quick pump
   
   
3. Speed and Force of Dump: Anytime the market rips down 20-30% off an RSI not in the oversold range (70+) are typically liquidity events and not top signs
   
   
4. BTC ETF: ETF was just started to be pitched to private investors really opening the door for institutions to onboard customers into the fund. I think this presented an opportunity to drop the market quickly and give big money a better entry
   
   
5. Cup and Handle: We have formed a really nice cup and handle on the 1D
   

Aug 5, 2024

Note

Examples of RSI Hot Spots:

2020 Bottom : RSI 17 - Flash Drop 7k -> 4k
2021: RSI 20 - Flash Drop 60k - 30k
2022 Bottom : RSI 26 - Flash Drop 21k -> 16k
2023 Bottom: RSI 20 - Flash Drop 29K - 25k
2024 Bottom: RSI 28 - Flash Drop 69k - 50k