According to the new chart, provided by technical strategist at Fundstrat Global Advisors Rob Sluymer the way how bear market is about to end has some similarities with the previous years.
Fundstrat Global Advisors is well-known in crypto space due to its Head of Research a.k.a. ‘bitcoin bull’ Thomas Lee. Fundstrat is a research boutique, serving a broad array of clients, including institutional investors, wealth advisors, pension funds and high net worth individuals.
Sluymer states that in contrast to temporary bounces that have developed through 2018, weekly RSI [relative strength index] is now “at levels not seen since BTC’s last bear market low in early 2015 and BTC is showing very early evidence of responding to its long-term uptrend after three major downside moves through 2018.”
Previously, the Managing partner at Fundstart, Thomas Lee, said that the reason why bear market is still continuing is because “people are too bearish.”
Earlier, the bitcoin bull canceled his bitcoin (BTC) price forecast for 2018, having shortened it from $25,000 to $15,000.
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