If the Coronavirus started a bear market and potential recession then we are in for a few years of market declines and slow rebound....
If a similar pattern develops as in 2017 and we form a gigantic cup and handle we will see the new highs...
Relax, wait and buy more at lower prices...
Some are still thinking we will see a $1k BTC. I think they are dreaming... We are seeing similar BTC bottom patter as in 2017 and while we did have a double bottom this rebound might just go straight to a higher low as the amount of money in 2019 sitting on the sidelines is definitely higher than in 2017...
Something for me to save... Don't follow my advice...
As the long term trend line is climbing either we are going to finally move upwards or break the long term trend line. If we break the long term trend line we are in for another crypto winter but I highly doubt so with all the positive news in the last few months.
Last time we had such a high volume day was exactly 1 year ago and a start of some serious bullish movement. Is this the beginning of a reversal?
Bullish divergence is forming so we might finally see some reversal from the oversold situation.
But the direction is unknown... if the BTC shorts get squeezed ETH will probably follow with some delay... Black or red... place your bets....
Testing MA200... Maybe we will break through at the end of 2018?
A lot of altcoins are oversold and if we do bounce up from BTC on the triple bottom this will be a good entry.
Ok, I think I prematurely assigned a bottom and needed another flush dump and it already started. I think that we will bounce back up within the next 24 hours. If we don't then obviously shorts win and we dump to possibly even $3k levels. Comparing this chart to DJI we have extremely similar pattern with a long bullish trend and triple bottom pattern where we did...
We've bounced from the bottom exactly where I predicted(bit lucky)... Now it's time for bulls to push through 7600, 8600 and then 10k... It's possible but will require some extra money coming in but who knows... Volume has been low, buyers might be getting impatient and start putting money in if they see the triple bottom confirmation...
I think we will bounce back up at around $7000-$7200.