Time To BUY Bitcoin - Retrace Over?! (Another Wave Up Is Coming)

We had huge volume yesterday on the daily candle, the biggest volume we've seen in a while.

After Bitcoin's last wave up all the way to ~$8500, we had a major retrace. This retrace was very strong and fast and the price bounced after hitting $5858.6 on the 14th August.

A crash like retrace is good because you know it can't go on for that long and weak hands are removed quickly. On top of that, we created a "higher low" when hitting $5858 on the 14th August compared to $5755 on 24th June. Several signals are telling us that this might be the bottom of our retrace and that another wave up is about to start.

Let's take a look at some of the signals:

Huge volume (mentioned several times already).
SHORTS near all time high (last time this happened Bitcoin 1.26% went up in price).
MACD accumulation spotted and higher lows. Long term bullish divergence continues building up.
RSI touched low point of 28 and now curving up. Showing plenty of room available for growth while sitting near bottom.
Bullish candlesticks the last two days.
$5700 - $6000 Support level has been holding since Mid October 2017.

These are just a few of the signals that I am getting from my charts.

Some of these are early signals, others are strong. One thing that we can be for sure is that Bitcoin 1.26% is closer to the bottom than to its top... Keep that in mind, another opportunity to BUY has come.

Thanks a lot for reading...

Feel free to like, share, follow & comment... for more!

Namaste.

3Days chart:

Weekly chart: