I wrote this indicator in 2014, and has been fairly reliable bottom indicator on the weekly chart. Only 3 prior occasions of the BTC weekly showing blue candles (only occurs when severe oversold and a wide spread between short and long MAs).

  • Jan 12th 2015

  • December 10th 2018

  • June 13, 2022



The first two marked the bottom. June 13, 2022 was close to the bottom with actual bottom coming a few months later at $15,500.

This is now the fourth time we have blue weekly candles on Bitcoin.

$BTC

BTC
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