{"id":15891,"date":"2022-12-27T19:54:46","date_gmt":"2022-12-27T19:54:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/crypto-supporters-sift-through-the-graveyard-of-technical-indicators-that-failed-to-predict-bitcoins-bottom-bitcoin-news\/"},"modified":"2022-12-27T19:54:46","modified_gmt":"2022-12-27T19:54:46","slug":"crypto-supporters-sift-through-the-graveyard-of-technical-indicators-that-failed-to-predict-bitcoins-bottom-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/crypto-supporters-sift-through-the-graveyard-of-technical-indicators-that-failed-to-predict-bitcoins-bottom-bitcoin-news\/","title":{"rendered":"Crypto Supporters Sift Through the Graveyard of Technical Indicators That Failed to Predict Bitcoin\u2019s Bottom \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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As the end of 2022 approaches, a great number of bitcoin proponents are questioning whether or not the bottom is in as far as the official end of the crypto winter is concerned. The current bitcoin bear run just entered the longest bottom formation since the 2013-2015 bitcoin bear market. Moreover, analysts note that most of the technical bottom indicators used to predict bitcoin prices have failed to forecast whether or not the bottom is in.<\/strong><\/p>\n

Rainbows and S2F: The List of Technical Indicators That Failed to Predict Bitcoin\u2019s Bottom<\/h2>\n

A month ago, crypto supporters celebrated<\/a> enduring one of the longest and harshest bitcoin bear markets since the 2013-2015 bitcoin bear market. At the time, the 2013-2015 bitcoin bear run was the longest downturn but today, the current crypto economy\u2019s contraction period <\/a>is set to surpass the 2013-2015 crypto retrenchment.<\/p>\n

In addition to the longest bottom phase<\/a>, Bitcoin.com News reported<\/a> 144 days ago how a number of technical indicators failed this year to predict bitcoin\u2019s future U.S. dollar value. One of the biggest price model failures mentioned this year was the stock-to-flow (S2F) model, which was denounced<\/a> by Ethereum advocate Anthony Sassano and ETH-co-founder Vitalik Buterin last June.<\/p>\n

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“We need more pain before we make a bottom”<\/p>\n

My man, we’ve seen:<\/p>\n

\u2013 a top 3 exchange collapse
\u2013 2 top VCs in the space get liq’d
\u2013 2 top 10 coins w\/ a $60B+ mcap go to zero
\u2013 lending market wiped out
\u2013 Bitcoin down ~80% from ATH
\u2013 alts down 90-99% from ATH<\/p>\n

What more do you want?<\/p>\n

\u2014 K A L E O (@CryptoKaleo) December 22, 2022<\/a><\/p>\n<\/blockquote>\n

With all the so-called \u2018greatest\u2019 technical indicators failing miserably, many crypto proponents are still writing forum posts and social media threads<\/a> about bitcoin\u2019s confounded bottom. For instance, on Dec. 27, the Twitter account Crypto Noob tweeted<\/a>: \u201cBitcoin is currently trading in the oversold zone. Which is historically where the bottom forms. Do you think BTC<\/a> has bottomed out?\u201d<\/p>\n

Questions and posts like these are littered across crypto-focused forums and social media platforms like Facebook and Twitter. On Reddit, the subreddit forum r\/cryptocurrency features a post<\/a> that highlights how technical bottom indicators have failed, and the author of the post details that the analysts have \u201cno clue\u201d and this time \u201cIS different.\u201d<\/p>\n

\"Crypto
Screenshot from Beyonderr\u2019s Reddit post published on r\/cryptocurrency.<\/figcaption><\/figure>\n

The post\u2019s author \u201cu\/Beyonderr\u201d explains how eight technical indicators were not reliable to bitcoin traders this year. For example, the weekly RSI (relative strength index) was supposed to signal oversold levels and bitcoin\u2019s bottom, but Beyonderr says \u201cthis was not true this year.\u201d<\/p>\n

\"Crypto
Screenshot from Beyonderr\u2019s Reddit post published on r\/cryptocurrency.<\/figcaption><\/figure>\n

Other unreliable technical indicators Beyonderr mentioned include the monthly MACD (moving average convergence\/divergence), the Rainbow price chart, the 200-week moving average, the 100-week moving average X 20-week moving average, the Pi cycle indicator, the Hash ribbons indicator, and the average percentage drawdown from a cycle\u2019s high.<\/p>\n

Moreover, Beyonderr mocked the S2F price model by calling it the \u201cMeme bonus\u201d indicator. \u201cThe worst indicator of them all, Plan B\u2019s horrible Stock-to-flow model. Add it to the failed pile,\u201d Beyonderr wrote. The post on r\/cryptocurrency also mentioned that there may be four indicators that suggest the bottom \u201cmight be in,\u201d at least according to Beyonderr.<\/p>\n

The indicators Beyonderr cited include signals like \u201ctime in the market,\u201d the \u201cPuell Multiple,\u201d the \u201cMayer Multiple,\u201d and the \u201cMVRV Z-score.\u201d Meanwhile, a great number of people on social media platforms like Twitter wholeheartedly believe the bottom is awfully close to being in, but so far most technical signals have just been unreliable deviations.<\/p>\n

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\nTags in this story
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200-week moving average<\/a>, Beyonderr<\/a>, Bitcoin<\/a>, Bitcoin Indicators<\/a>, Bitcoin markets<\/a>, bottom<\/a>, Charts<\/a>, Crypto Noob<\/a>, Forum Posts<\/a>, indicators<\/a>, M&A<\/a>, MacD<\/a>, Plan B<\/a>, Predicting BTC bottoms<\/a>, Predicting BTC prices<\/a>, price signals<\/a>, Rainbow Charts<\/a>, Reddit<\/a>, Relative Strength Index<\/a>, RSI<\/a>, S2F<\/a>, signals<\/a>, Social Media Posts<\/a>, TA<\/a>, Technical Analysis<\/a>, Technical Indicator Discussion<\/a>, Technical indicators<\/a>, Tools<\/a><\/div>\n<\/div>\n

What do you think about the failed technical indicators that could not predict bitcoin\u2019s bottom? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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