BitcoinLong
A Bullish Rejection
This nicely shows the impending pivotal moment. We can extend the triangle out to show the base and the time we have left. The 200DMA is still holding us down, and time is running out to break it, since the death cross looks to be getting closer, possibly a couple of weeks away. If we get the cross, it will most likely precipitate a sell off.
But we're seeing a lot of buying pressure in the low 8ks. So...there's a reasonable chance this could form a bottom. The similarities with the end of 2018 / beginning of 2019 are striking. If the fractal plays out, we're at the bottom. This is bolstered by MarketDecryptor A showing a bullish rejection on the daily.
But we're seeing a lot of buying pressure in the low 8ks. So...there's a reasonable chance this could form a bottom. The similarities with the end of 2018 / beginning of 2019 are striking. If the fractal plays out, we're at the bottom. This is bolstered by MarketDecryptor A showing a bullish rejection on the daily.
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