15 years of data backtesting + downward channel, will this script be different this time?

Where will Bitcoin's bear market bottom be?

That's the question everyone's been asking.

There are many ways to get a glimpse of where $BTC might bottom.

But, here's a simple price action method that has worked for the past 15 years.

The RSI indicator on the monthly timeframe.

Historically, once it reaches oversold levels of 40-50, Bitcoin bottoms out.

But wait, that's the level it's at now.

Taking a bigger look, the RSI appears to be in a slight decline, forming a downward bearish channel.

The RSI is currently at 43.58. Based on the trendline, the next bottom should be around 35-38.

So we're probably not there yet, but we're very close. And even at current price, BTC is already interesting.