Good day for the Bitcoin price and yes guys I have some crazy news for you especially if you're one of those people who are thinking this bull market is over or very bad things are going to happen or we are not going to it 150 200 000 or other price tags which I can talk in this video. Guys this one chart is a chart you have not seen before and I don't understand why. It's the one-on-one and trading. It tells us exactly where we are in the cycle. Let's go straight into it.
Ladies and gentlemen, smash up the like button, do a new all-time high, and let's talk about Bitcoin. And you all remember this video I made just before New Year's Eve, Bitcoin, a huge warning sign for New Year's Eve, where I talked about this shooting star candle indicating a monthly downtrend, which is basically the same like a bear market, right? Well, first of all, let's look at this.
And this is not the chart I want to talk about, but you need to understand first, where are we in the cycle? Every single cycle, we have three green years and one red year, right? Every single cycle, we are breaking the previous all-time high in the second year, right here, right there, and right there. But every single cycle, we have three green years, and we had it every single time.
This time, we went maybe higher a little bit earlier in the second year, but that doesn't mean that the third year shouldn't be bullish, right? So that is the first thing. But this is a 12-month candle, so that leaves actually room open for a few months correction to the downside before eventually going towards the upside.
Number one, means no bear market, but it doesn't mean there is no correction. Now let's go into the monthly candles to see what is happening. Well, we see every time we are breaking the all-time high, we see a few months of this green area here of Bitcoin actually going towards the upside.
And yeah, eventually breaking up and reaching a new all-time high. Well, on the bottom side, that's more important. That's the monthly RSI.
And every single time we are topping out, we are hitting the overboard level, the severely overboard level. And there's a trend line. And every single time Bitcoin hits it, before we are reversing to the downside.
Meaning, translated. The Bitcoin bull market high is only reached once we are getting closer to the ground. Once we are severely overbought for Bitcoin, not when we are just overbought as we are already right now. Only when we are severely overbought and we are not severely overbought yet. We would need two, three months more of upwards price action to be severely overbought again.
We can get a correction. Yes, I deleverage my portfolio, but I'm still all in crypto. Just took leverage out and I took profits into Bitcoin from my trades. I'm still having more than 10, 15 million US dollars in unrealized profits. So yes, I'm still bullish on Bitcoin.
Just immediate short term is a little bit uncertain. But the bull market is extremely unlikely to be hit yet. That is my message for today.
Thank you so much for watching and we are going to see you very soon at the next November Crypto. As always guys, as always, bye. Bye.