As you can see in the chart, the selling has continued to slow since the initial sell off @19.8k
This doesn't mean that Bitcoin cannot go lower, however the trend is indicating that a reversal may be near.
You can also see the selling momentum slowing in this inverse chart.
Here we go. Inverted head and shoulders has formed and we're currently at the neckline. Await for the neckline to break and close the day above $6,900 before considering going long. Inverse head and shoulders are actually a bearish pattern as they indicate strong resistance until they are broken. See the full idea here:
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
@InvestingScope, I'm not suggesting the reversal is happening now, I'm suggesting that the selling momentum has consistently been slowing heading towards a sideways or bull market. Predicting more down is like predicting another day of rain after a week of rain. It's easy to do, I'm more interested in the ideas that predict or provide data on when a trend change will happen.
agreed 100% whit this shorters are overhyped same like they was buying on pump close to 17k and up they are already fully manipulated to short BTC now they time for smart money comes they will harvest easy money on all shorters same like they dump on fomed BTC buyers