Is this the Bottom of BTC? An honest Analysis
Updated
I've noticed theres a a lot of talk around if BTC has bottomed, so here is my relatively unbiased thoughts.
BTC has bounced off it's 200 weekly MA twice now, which is bullish, as it is a relatively firm bottom historically for many markets. Looking at the chart, after the previous rally, BTC consolidated, hit its 21 EMA (my favorite indicator of a bullish market), then proceeded to stay above the 21 EMA and rally. This is very bullish. It is too early to tell if the bottom is in. However, if BTC can keep above its 21 ema, and keep confirming it as support while breaking overhead resistance (I'm particularly invested if it can break above 4,000 and confirm it as support), then I'll see you at the Moon.
Crypto Sunny
BTC has bounced off it's 200 weekly MA twice now, which is bullish, as it is a relatively firm bottom historically for many markets. Looking at the chart, after the previous rally, BTC consolidated, hit its 21 EMA (my favorite indicator of a bullish market), then proceeded to stay above the 21 EMA and rally. This is very bullish. It is too early to tell if the bottom is in. However, if BTC can keep above its 21 ema, and keep confirming it as support while breaking overhead resistance (I'm particularly invested if it can break above 4,000 and confirm it as support), then I'll see you at the Moon.
Crypto Sunny
Note
Also, the bullish Parabolic SAR is another piece of evidence that BTC is currently Bullish.
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