Based on the existing trend I think bitcoin has bottomed out and is heading higher soon, but maybe not at the same pace as previously during the run from 3k to 20k. The thick line is resistance now and was previously very hard to breach. The slope is positive though so there is no need to pass this resistance to keep going up. The FUD has been immense but bitcoin is not DEAD. After a dump like this I think price will go sideways to shake out impatient people.
TLDR: The local bitcoin bubble has been popped (as many times before), and I think the price is already recovering.
TLDR: The local bitcoin bubble has been popped (as many times before), and I think the price is already recovering.
Comment:
However, if price on a larger time frame closes below the 100 EMA, there's probably a real bear market coming... I don't think it happens but if it does, regardless of what price you bought at, you should be getting out.
