BTC: two Bull scenarios and Timing
Technical Wise:
BTC may have found a temporary bottom.
Impulse wave up following Fibs perfectly.
If this impulse break 8k, the bull sentiment will be very strong.
Fundamentals Wise:
I believe the end March sell off was funds sell at a loss for a Q1 ''write-off''.
This selling was evident in the Stock markets as well.
Now in Q2, I think some of that money is coming back into the market.
BTC may have found a temporary bottom.
Impulse wave up following Fibs perfectly.
If this impulse break 8k, the bull sentiment will be very strong.
Fundamentals Wise:
I believe the end March sell off was funds sell at a loss for a Q1 ''write-off''.
This selling was evident in the Stock markets as well.
Now in Q2, I think some of that money is coming back into the market.
Note
Forgot to add a larger tf Fib to chart above.It locks right in with my possible targets.
This brown fib from recent 12345 impulse down:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.