Bullish case:
We have entered the golden buy zone, when btc is below the logarythmic growth curve and gaucian channel 5 times in bitcoins life.
Average time spent there is about a year.
We are currently at the 2017 high, and 63% from bitcoins ath (all time high).
Bearish case:
Bitcoin has closed below the 210 weekly moving average, which it has never done before. and closed multiple candles below.
The world economy is in a lot of trouble, and i expect that once poor earnings results come out that the stock market will fall further.
Tapering by the world USD printer is trying to absorb some of the liquidity that it flooded the market with.
Conclusions:
We may very well be at the bottom of where bitcoin can go.
But there is a chance of further downside.
The only way to take advantage of this is to continually Dollar Cost Average into Bitcoin.
A higher DCA amount than normal could be advised if it is part of your investment strategy.
Personally I am waiting to see how bitcoin reacts when it retests the 17500 area, with a potential wick as low as 15/13/12500 and even 11k. I dont think it will stay there for long.
I will make a judgement based on Market Cipher B 4 day chart when I rekon that the bottom is in
Not financial advice (it never is)
We have entered the golden buy zone, when btc is below the logarythmic growth curve and gaucian channel 5 times in bitcoins life.
Average time spent there is about a year.
We are currently at the 2017 high, and 63% from bitcoins ath (all time high).
Bearish case:
Bitcoin has closed below the 210 weekly moving average, which it has never done before. and closed multiple candles below.
The world economy is in a lot of trouble, and i expect that once poor earnings results come out that the stock market will fall further.
Tapering by the world USD printer is trying to absorb some of the liquidity that it flooded the market with.
Conclusions:
We may very well be at the bottom of where bitcoin can go.
But there is a chance of further downside.
The only way to take advantage of this is to continually Dollar Cost Average into Bitcoin.
A higher DCA amount than normal could be advised if it is part of your investment strategy.
Personally I am waiting to see how bitcoin reacts when it retests the 17500 area, with a potential wick as low as 15/13/12500 and even 11k. I dont think it will stay there for long.
I will make a judgement based on Market Cipher B 4 day chart when I rekon that the bottom is in
Not financial advice (it never is)