Hello everyone! Today I want to discuss Bitcoin's "bottom".
Now, when people refer to the bottom they are suggesting there is a time where the price will be low and there will be mass accumulation and/or market buying.
With that being said I am going to say that $1,800-$2,000 range is bitcoin's bottom before we see trend reversal. Here are my reasons why:
-Bollinger Bands are squeezing in. Now we may see a big move up but it will be a bull trap if it does increase. If it goes down I think we will then see our bottom that we need.
-Fibonacci is almost retraced all the way back and just so happens to be in our $1,800-$2,000 range.
-Many are still predicting lower and the market conditions are not getting any better. I've always learned to never trade against the waterfall. You may accumulate in this time for long term gains but do not go against the river if you plan on day trading or short term holds.
If you have any questions, feel free to shoot me a message in my discord or comment, thanks guys.
Discord: discord.gg/EUGmcHx
Twitter: twitter.com/CryptoNail
Now, when people refer to the bottom they are suggesting there is a time where the price will be low and there will be mass accumulation and/or market buying.
With that being said I am going to say that $1,800-$2,000 range is bitcoin's bottom before we see trend reversal. Here are my reasons why:
-Bollinger Bands are squeezing in. Now we may see a big move up but it will be a bull trap if it does increase. If it goes down I think we will then see our bottom that we need.
-Fibonacci is almost retraced all the way back and just so happens to be in our $1,800-$2,000 range.
-Many are still predicting lower and the market conditions are not getting any better. I've always learned to never trade against the waterfall. You may accumulate in this time for long term gains but do not go against the river if you plan on day trading or short term holds.
If you have any questions, feel free to shoot me a message in my discord or comment, thanks guys.
Discord: discord.gg/EUGmcHx
Twitter: twitter.com/CryptoNail