We went way down yesterday and today we had a up move to $7207 which is a up move of about $600. But what I want to know is… Was that the bottom?
Yesterday I could not find 1 positive view from the YT Bitcoin gurus, but today I found much more positivity from the same bitcoin gurus.
Tone Vays gives his take on the bitcoin price and the $7000 level consolidation:
Here is Haejin Lee with his take on the bitcoin price. He has an interesting chart of the MACD that might show the bottom is in and a big breakout to the upside to come soon. He says the sellers are running out of STEEM with his proof:
Here is an article I found on Coindesk.com from Omkar Godbole about the 7000 level:
https://www.coindesk.com/bitcoin-eyes-bottom-after-50-day-low-below-7k/
Here is Dan from The Chart Guys with his view, but keep in mind this was done on the 30 March, but the technical education your get with his comments are great:
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I am glad to see some positivity after the second week of bitcoin bear dominance. Are the Bulls ready to come out next week?
The bulls are ready to come out....for a couple weeks anyways...The bounces will be ferocious btu the secular trend move higher that will continue is down the road
That sound good to me.
We need confirmation that the low has been established. Until we absorb the sell orders in yellow and take out the daily trend line, there is still a chance price goes to the $6k level. If the bottom has been established, look for price to break the trend line, then buy on a pull back at the trendline, which should serve as support.
Do think we have seen the bottom now that we had this up move to 7350 today?
On the daily chart we are still making lower highs (LH) and lower lows (LL), meaning we are still in a down trend. The first test of this bottom are the sellers at $8000. Price could react, then make its way to $6000 or the buyers could take out this level. If order for me to be convinced that we hit a bottom, I need to see the buyers take out the sellers at $8500 as well...this is my rule of 2....price taking out $8000 we have a trend violation, price taking out the sellers at $8500, we have a trend violation as indicated by the orange arrows.
Appreciate your question, did this analysis help??
I like those up arrows!
The big boost is just around the corner !
Looks like we final got it today?
wow great post, thanks for sharing this info...
People has been telling us that the bottom is in for last two months. I am more than apprehensive of such claims.
Still I cannot help but hope that you are correct. Cheers and best if luck!
We had a nice bounce today. I hope for more this week.
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