Did Bitcoin finally find its bottom?? - Daily Bitcoin Screening: $8,796 (4hr chart)

in #teamcrypto7 years ago

#Bitcoin had a rough day yesterday (and crypto in general). The daily closed under our major #support trend line. I said in my screening yesterday that if we did, we could fall as low as the new horizontal support I drew (blue). Well, we did just that. Good news is we bounced right off of it nicely! We’re not out the woods just yet, the #bear still lurks. Pay attention to how #BTC reacts off of our different resistance lines (red). That volume spike is encouraging, though. Be ready! Screen Shot 2018-02-02 at 8.39.20 AM.png

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Not even close to the bottom!

Cryptopanic makes good crypto investors

Just set up your entry position and enjoy. (it's not even close to my entry position).

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interesting...what would you project?

I expect long downtrend. My oppinion is that the price will keep droping for next year or two.

So what are you seeing that separates this correction from BTC's previous corrections?

It's not different i think it will be the same like it was after 2013 jump to 1000$ and downtrend for next 3 years (ofc with ups and downs)

I see your logic. My only counter would be that virtually nobody knew about BTC from 2013-2016. 2017 was the year crypto truly became relevant. It's hard for me to see BTC essentially becoming irrelevant again for several years like that previous drought. With it being adopted by more and more people and more and more major institutions, with it being easier to acquire than ever now, I think we will find a bottom soon enough and climb once again. I appreciate your input, upvote, and follow! Only time will tell, yah?

Time will tell :)

I'm just publishing my introduction post with a small project and i would appreciate if you take a look and give me some advice.