BitcoinLong
BTC might have bottomed
Updated
Bounce of multiple supports including the channel connecting 2015 black swan wick, 300 weekly ema that supported the 2019 black swan wick. Puell multiple indicator gave a bottom signal the second time. Market dumped after the first Puell multiple indicator bottom signal because of the FTX market manipulation. All market manipulations, in this case FTX shorting ETH and USDT with customers deposists, will revert to the original starting point which has happened.
Break above the 21 weekly EMA is bullish and good for Alts.
A monthly close above the 21 weekly ema will confirm upward trend.
Break above the 21 weekly EMA is bullish and good for Alts.
A monthly close above the 21 weekly ema will confirm upward trend.
Note
Puel indicator estimates a 5 to 6 x rise from 18k, which puts a target on 100k in August. These are very rough estimates because the relation between the indicator and the price is non linear. Only once price is close to the Puel target can we know the top and that is not assured. One can use monte Carlo analysis to determine a more precise target.
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