- As a reminder, the bitcoin Accumulation Program is a process attempting to assess and communicate the attractiveness of bitcoin’s price. Basically, we are trying to determine good times to buy or add positions in bitcoin and to help understand what is happening with the price of bitcoin on a weekly basis.
The goal of this approach is to help make investors feel more comfortable with a long-term perspective when approaching a very volatile asset by providing a logic-based accumulation approach. Read our last analysis here, and for more overall information on our bitcoin Accumulation Program, watch our overview video here.
What the Indicators are Telling Us This Week
- RSI: RSI (top study, blue line) is in neutral territory
- Trend: The Trend Score (middle study, yellow) is quite negative
- Cycle: Cycle Score has signaled a potential bottoming in process (bottom study, green line)
- Fibonacci retracement: the long-term retracement from the November 2022 low (15,627) to the October 2025 (125,140) high gives us an important retracement level (61.8%) at 57,460.
Chart of bitcoin ($BTC) produced by Kevin Grimes
Conclusion: Bitcoin is at nearly the same level as our last update on June 12th but did put in a new low on June 30. The Trend Signal remains quite negative. On the positive side, the Cycle Signal indicated a possible bottoming process in late June. Most importantly, bitcoin remains above a key support level of 57,460, which is the 61.8% retracement of the major 10x advance from November 2022 to October 2025. A violation of this level would be a substantial negative, but for now we are maintaining a Neutral score of 4 on our 1-7 scale.
OVERALL SCORE (1 – 7 Scale): 4 // Neutral
read Previous Bitcoin Diaries
- Bitcoin Diaries 6/12/26
- Bitcoin Diaries 5/29/26
- Bitcoin Diaries 5/7/26
- Bitcoin Diaries 4/17/26
- Bitcoin Diaries 4/8/26
- Bitcoin Diaries 3/6/26
- Bitcoin Diaries 2/20/26
- Bitcoin Diaries 2/6/26
- Bitcoin Diaries 1/30/26
- Bitcoin Diaries 1/23/26
- Bitcoin Diaries 1/16/26
- Bitcoin Diaries 1/9/26
- Bitcoin Diaries 12/12/25
- Bitcoin Diaries 12/5/25
- Bitcoin Diaries 11/21/25
- Bitcoin Diaries 11/14/25
- Bitcoin Diaries 11/6/25
Important Disclosures:
This Cryptocurrency article is for informational purposes only. Past performance is not indicative of future results. Crypto is a digital currency that can be used to buy goods and services but uses an online ledger with strong cryptography (i.e., a method of protecting information and communications with codes) to secure online transactions. Unlike conventional currencies issued by a monetary authority, cryptocurrencies are generally not controlled or regulated, and their price is determined by the supply and demand of their market. Cryptocurrency is currently considered to be a speculative investment. Please Note: Investment in cryptocurrencies is subject to the potential for liquidity constraints, extreme price volatility and complete loss of principal. Moreover, you should not assume that any discussion or information contained in this document serves as the receipt of, or as a substitute for, personalized investment advice from Grimes. A copy of our current written disclosure Brochure discussing our advisory services and fees is available upon request or at www.grimesco.com.