It has been a grueling 12 months in cryptoland there is no doubt about that. From the top at the end of 2017, you can consistently see lower highs all the way down the chart below. IN FACT, there was NEVER a time that that a higher low even presented itself to me that was "Worth" buying...until now.
After price was pressed down against the 5800 level multiple times, it was only time until it broke. Now that the puke has happened it is then over the past month or so that we should be "watching". I know you are wondering what we should be watching for? Well...
1. CNBC has stopped covering cryptocurrency, that is a good sign
2. Higher low - Have we gotten one on volume? not until yesterday.
3. Igniting bar with buyers that will take control.
Is this the bottom? It is WAY to early to even tell. Is this A Bottom? It is very possible. Any trader, investor, buyer, etc. now has a DEFINED bottom to buy against and that is 3333ish.
This is a great opportunity to start piling more in as the risk/reward favors the BULLS HERE! Keep Accumulating!
Published by Hey I'm Snuffles
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Thanks for the information and it's been a pretty grim experience for me since getting in to crypto pretty much at the ATH. My confidence in it has naturally taken a battering but just going to keep earning what I can on steem and other platforms then take it from there!
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Nice analysis bro... Will sure keep my eyes on it.
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Promising movements but surely need to see some followthrough and volumes be sustained while taking out some resistance from the downward trendlines. I think some more weeks of ups and downs while be healthy but I don’t think we can revisit lows if we want it to be the bottom.
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Accumulate now, while you can.
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Nice analysis. While I’m not convinced THE bottom is in, I agree accumulating for the long haul is a good idea.
We’re watching (in real time) the start of a complete restructuring of the worlds financial system. I don’t think there’s any question bitcoin will play a role in that new system. The only question is, how big of a role will it play?
Hyperinflation is likely coming in the not too distant future...regardless of where you live. Precious metals and crypto are the 2 best ways to hedge against it IMHO. Don’t be that person that says, “If only I had bought bitcoin when it was $3,600”. Will it drop further? Maybe. Will it matter in 5 years? Not at all.
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Why is it good that CNBC has stopped coverage? I thought any news was good news...
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Publicity is great. But when it gets as big as it was where CNBC 2as commenting about crypto every hour you know that bubble is almost over. Now that covered has seemed to cease...its about time for the rise to begin soon
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Ok, that makes sense. It was too trendy and that caused the market to go all wonky. :-)
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