4 Reasons Why Bitcoin and crypto markets are setting themselves up for a massive reversal! BTC, ETH, XRP, BCH, LTC, and cryptocurrency news!
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Thanks for sharing but strong TA only mixed with strong fundamentals can assure a true reversal...the fundamentals are not there to support the come back..check this out...
https://steemit.com/bitcoin/@sabzero/bitcoin-is-here-to-stay-but-it-won-t-fly-either-soon-here-is-why
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I agree with you that technically we can expect a reversal soon, I'm betting around the 3000$ zone. But I'm not sure the bounce will breach 4000$ and I fear that after that we'll see a new lower-low. The reason of my concerns is that the current value of the PMR that is not is the buy zone yet, and that is the major difference from the 2015 bottom. The problem is that the number of daily active addresses (DAA) is slightly decreasing. With the current DAA value, PMR would be in the buying zone if BTC was around 2400$. If DAA continues it decrease, this would call of an even lower bottom.
Also, I'd expect a massive increase in trading volume around the bottom, but volume keeps decreasing since its 15th of November peak.
So my current stance is to play a reversal around 3000$, take profits around 3800$ and wait for another lower low with increase of trading volume and a PMR in the buying zone.
This is not financial advice but my personal beliefs. Don't take it as a financial, trading or investment advice.
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