BTC hit RSI 30 for the first time and what happened? Rebounded nicely off of it with a huge green weekly candle. We're following that up with another green candle. This is the beginning signs of a bottom. I have highlighted a BTC defense zone which we need to hold. If the unlikely event we do break below 3k, which I doubt based on what I see on the daily timeframe , you will notice the highlighted buy zone. It's a wide range, but that's what it is based on past support zones.
Capitulation already happened. Retail investors have given up. outdated miners are dead. Only people left are the strong! This was when BTC broke through the 6k bottom and fell to 3k. FUD and short sellers are calling for a lower BTC but this is no different from BTC bulls buying and mortgaging their homes to buy at 19k. Short sellers have gotten way too risky and confident leveraging up to 100x. Within the next month we're going to see a huge short squeeze and the market is just waiting or a catalyst...what could this catalyst be?
This catalyst is Baakt, which is expected to launch Jan 29th. physical delivered futures and more importantly institutional grade custody by sister company NYSE. I'm looking forward to these daily futures as a hedging instrument.
The market timing is actually amazing. Global growth and stock prices are headed down. Trade wars on the rise. Geo-political risks across all industrial economies seems unrelenting. Global investors will invest more capital into the crypto-market as a hedge. More money will pour obviously into Gold , but we will being in Q2 2019 institutions begin dipping their toes into the King of Digital Gold ( BTC ). So this V bottom recovery is highly plausible and sustainable to 6k levels again soon. From there we continue higher testing new levels of resistance.