Hi Traders,

Bitcoin is showing some strong signals of finally hitting a bottom.

Though we still have a large possibility of another cascading/ capitulation.

The weekly RSI has only hit a 30 or lower-level two times before. Once in 2015 & 2018.

We couldn’t ask for a better opportunity to enter the market with the reassurance of buying at a major discount .

We can’t read the future but rather weigh the odds of previous reaction points providing the highest rate of return.

Buying the 2015 RSI level of 30 would have returned an 11k%(+/-) from trough to peak ( obviously, this is if you sold the exact top). Buying the 2018 RSI level of 30 would have returned a 2k%(+/-)

Now, the question is what could we expect to see in return from buying the 2022 RSI level at 30 (if we hit the 30 level)?

The stock-to-flow model is saying a price of $500k. I believe we could see a return from trough( BTC price @ $21.5k) to peak of 1500% in the next bull run, which would lead us to a price point of around $350k.

All make-believe until action takes place, time will tell.