Bitcoin Bottom Analysis and Future Outlook
In my opinion, BTC has already formed its bottom. I believe this because the lows are fully protected, meaning no candle has closed below the previous low on the daily timeframe. This is a strong indication that we have established a bottom. Additionally, the 74-75K area was a very strong support zone from which we saw a significant reversal.
However, if someone wants extra confirmation, they can wait another one to two weeks for further price action. The RSI divergence is also showing that this is a strong area and could be a potential reversal point.
It’s important to remember that nothing in the market is 100% certain. No one can buy exactly at the bottom or sell exactly at the top. Traders need to be cautious and analyze the market based on their portfolio strategy and risk-to-reward ratio.
As for Bitcoin’s upcoming movement, I expect the market to remain sideways until the last week of April. After that, I anticipate an uptrend beginning in May. Let’s see how things unfold in the coming days.
Hope my previous precautions helped you to save your capital and you are now buying the discounted prices.
If you want to know about top utility projects comment down there I'll update you.
In my opinion, BTC has already formed its bottom. I believe this because the lows are fully protected, meaning no candle has closed below the previous low on the daily timeframe. This is a strong indication that we have established a bottom. Additionally, the 74-75K area was a very strong support zone from which we saw a significant reversal.
However, if someone wants extra confirmation, they can wait another one to two weeks for further price action. The RSI divergence is also showing that this is a strong area and could be a potential reversal point.
It’s important to remember that nothing in the market is 100% certain. No one can buy exactly at the bottom or sell exactly at the top. Traders need to be cautious and analyze the market based on their portfolio strategy and risk-to-reward ratio.
As for Bitcoin’s upcoming movement, I expect the market to remain sideways until the last week of April. After that, I anticipate an uptrend beginning in May. Let’s see how things unfold in the coming days.
Hope my previous precautions helped you to save your capital and you are now buying the discounted prices.
If you want to know about top utility projects comment down there I'll update you.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.