Bitcoin weekly chart is BULLISH - the bottom might be in if...
Hello all,
In my last post, I said we were probably going to break out above the ascending triangle and we did, so congratulations to anyone who was betting with me. Read that here:
Here, we have the weekly chart. Now, I do not trade the weekly chart, but it is bullish. We have a cross forming on the macd for the first time since the bear market began and if we can get above the recent high: ~$8600 then I will be pretty confident that the bottom for bitcoin is in. Until then, I am uncertain. All I can say is that if you are short on bitcoin, be careful. This could turn around and you could get rekt. Remember, the trend is your friend until it isn't. We have been forming a smooth bottom like in the last bear market and we have had one capitulation, so it's certainly possible the lows are in.
Be careful everyone!
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
In my last post, I said we were probably going to break out above the ascending triangle and we did, so congratulations to anyone who was betting with me. Read that here:
Here, we have the weekly chart. Now, I do not trade the weekly chart, but it is bullish. We have a cross forming on the macd for the first time since the bear market began and if we can get above the recent high: ~$8600 then I will be pretty confident that the bottom for bitcoin is in. Until then, I am uncertain. All I can say is that if you are short on bitcoin, be careful. This could turn around and you could get rekt. Remember, the trend is your friend until it isn't. We have been forming a smooth bottom like in the last bear market and we have had one capitulation, so it's certainly possible the lows are in.
Be careful everyone!
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli