BitcoinUpdated $BTCUSD Price STILL Not bottomed in my opinion.
Money has been flowing OUT of BTC and Crypto in general with some smaller "value coins" starting to get CMF turn Positive. But the market usually follows BTC and ETH leads. Both charts look similar and suggest further downside with a retest of support levels before Accumulation zone is done and we start a leg higher. As with everything in TA the charts can change. I will update this as we progress.
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Looks like we MAY have in fact bottomed now on BTC. Looks liek MONEY Flowing IN to BTC lately. We can NOT ignore that. BTC Money Flow os now breaking down trend and starting to turn positive. Usually this occurs as people are accumulating while price continues to go lower or consolidates sideways. This does NOT mean prices can not go lower. It just shows that the momentum and money flowing IN to BTC is suggesting higher prices to come soon. Anyone with SHORTS should be covering here.I know I am BUYING and accumulating more and more crypto as posted in other threads. We know BTC and ETH usually lead the way and if BTC starts to take off I think we could have a big upside surprise over next few months.
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LONGED!! We have reached my target zone.2 LONG Entries at $38,800 and $38,612.
Did YOU BTFD??
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Very good video. In particular Gareth Soloway AGREES and came to the EXACT SAME CONCLUSION as I did. Watch video from 23 min -25 min.youtu.be/UTjVuiaNDOI
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Sorry this was posted on the wrong thread. See other BTC Bear scenario thread where I think BTC to drop <20K over next 1 year or more.
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Likely scenario is we retest 32K level before bouncing higher only to roll over once again.
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