The second quarter of 2018 may be the break-even period to prepare for the upcoming Bitcoin rally (BTC).

Historical data

The community is boiling because of big names on Wall Street (like Soros and Rockefeller ) preparing to enter the cryptocurrency market. This news helped boost the market, as with the introduction of the Bitcoin futures contract just before the $ 20,000 peak in December 1977.

Besides, history is on the side of this older brother. Price analysis shows that Bitcoin tends to perform well in the second quarter of the year.

The BTC has strong rallies in the second quarter of the year - the highest of 1.964% in the second quarter of 2011 when prices jumped from $ 0.78 to $ 16.1.
The second highest increase was 131% in the second quarter of 2017.

Bitcoin rates repeat this year's pattern is very high, as the signal is oversold , based on 14-day RSI.

Moreover, argues optimistic about the historical data shows that local mail " death cross " (MA (50) moves down to cut MA (200)) rather than a " bear trap ."

Weekly price chart

For the third week in a row, the 50-week moving average is always below the Bitcoin price. With a base price of $ 6,500, Bitcoin may soon test the $ 7,500 resistance level .

If the price rises above $ 7,500, it may bring a recovery to the 10-week MA, currently at $ 8,605.

However, only when prices close to the $ 11,700 threshold is the signal change from the downward trend to the upward trend.