As you can see here we have formed a **triple** bottom on the BTC/USD pair using the Renko candlesticks.
I would say if we continue to test this bottom and not break, we could be in for a bullish recovery for BTC.
Tread carefully, but I personally see a bottom picking going on more than anything, the thought side of me thinks this is short, but the facts are facts, and it shows BTC has some support/strength.
This structure is a clear undervaluation of BTC in the essence of technology, but I could see price showing further downside in considerable amounts if this structure is broken for an extended period.
On-Chain data also shows some whales starting to transact more in larger amounts as well (I have done my own analysis of Ethereum data which is showing some larger transactions in the past 3 days) which is indicative that crypto may not be 'dead' but just in a low-volume state, whilst larger cap investor interest still remains.
Past performance is not indicative of future results.
Thanks for reading this and I hope you are able to evaluate the problem for yourself as well.
My short case is listed below using the AVAX.D chart as well, this is case B and only if BTC breaks the current floor will we consider that case moving forward.
I would say if we continue to test this bottom and not break, we could be in for a bullish recovery for BTC.
Tread carefully, but I personally see a bottom picking going on more than anything, the thought side of me thinks this is short, but the facts are facts, and it shows BTC has some support/strength.
This structure is a clear undervaluation of BTC in the essence of technology, but I could see price showing further downside in considerable amounts if this structure is broken for an extended period.
On-Chain data also shows some whales starting to transact more in larger amounts as well (I have done my own analysis of Ethereum data which is showing some larger transactions in the past 3 days) which is indicative that crypto may not be 'dead' but just in a low-volume state, whilst larger cap investor interest still remains.
Past performance is not indicative of future results.
Thanks for reading this and I hope you are able to evaluate the problem for yourself as well.
My short case is listed below using the AVAX.D chart as well, this is case B and only if BTC breaks the current floor will we consider that case moving forward.
Comment:
Seems like the bull case is playing out. Could be fireworks if enough pressure builds up in the pot.
Trade active:
Believe BTC is finding support here now.
Comment:
Bull case is playing out. GG.
Comment:
I'm selling here until further notice.
