Bitcoin Update, has it found a bottom? Where from here?
I have posted all relevant info on the chart. I will also link my other published ideas showing how we got here and what I think about the future price action on bitcoin.
It seems to me Bitcoin has either found a bottom and a trend change is in order.
OR
Bitcoin will get pushed down to $33,000 zone and get support there, where the same process will repeat.
I do believe that short sellers will get greedy and we will start to see short liquidations rise at a rapid pace causing bitcoin to recover strong on strong volume as they will have to buy BTC to cover their short positions. Regardless of 35k or 33k support.
Please be cautious when trading this is not to be taken as advice. It is my opinion and how I approach this market.
It seems to me Bitcoin has either found a bottom and a trend change is in order.
OR
Bitcoin will get pushed down to $33,000 zone and get support there, where the same process will repeat.
I do believe that short sellers will get greedy and we will start to see short liquidations rise at a rapid pace causing bitcoin to recover strong on strong volume as they will have to buy BTC to cover their short positions. Regardless of 35k or 33k support.
Please be cautious when trading this is not to be taken as advice. It is my opinion and how I approach this market.
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