BitcoinLong
Bitcoin bottom is days away
In my last post, I was talking about a bottom that will occur around mid of May. My opinion still hasn't changed. In fact, I believe the bottom is days away.
According to the Bitcoin cycles, a cycle last on average 65 days. As this is an average, it is never an guarantee you'll see excactly 65 days. The last one for example lasted 70 days.
We're now at day 59. It is also likely that a cycle will end in a new low, meaning we could still see 25k in just a couple of days.
Here's how I would play this correction:
- Buy the current price,
- Buy 27k
- Buy 25k.
The targets are close to eachother but that is fine. I believe the fact that we did not a big correction is bullish for the price of Bitcoin, and therefore, lower prices are unlikely.
According to the Bitcoin cycles, a cycle last on average 65 days. As this is an average, it is never an guarantee you'll see excactly 65 days. The last one for example lasted 70 days.
We're now at day 59. It is also likely that a cycle will end in a new low, meaning we could still see 25k in just a couple of days.
Here's how I would play this correction:
- Buy the current price,
- Buy 27k
- Buy 25k.
The targets are close to eachother but that is fine. I believe the fact that we did not a big correction is bullish for the price of Bitcoin, and therefore, lower prices are unlikely.
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