We can see that bitcoin has once again broken the 200-day moving average, and is dipping down to touch the 300-day moving as it did on the 6-feb, which is also where we are getting massive price resistance. Additionally, we are seeing a series of lower-lows on the MACD. While day traders are busy pulling their hair out, the bulls are getting ready to buy buy buy buy, because when bitcoin touches $7000, it will complete a long-term double bottom formation, thereby signalling the end of the market correction after our parabolic rise during December. From here, bitcoin will enter into the upward trend channel, and we can expect to see an Elliott Wave retracement to the ATH. We can expect some slow growth from bitcoin over April - June, as newbies slowly trickle back in and volume slowly increases, before we repeat history during the fourth quarter. During this sideways action, we can expect to see restored confidence in the altcoin market. Just remember not to lose sight of the big picture, and be ready to BTFD and go long at $6500-7000 - don't leave it all to the institutional investors!
*this is not financial advise nor is it a recommendation to buy or sell - for educational purposes only - DYOR - never invest what you can't afford to lose*
*this is not financial advise nor is it a recommendation to buy or sell - for educational purposes only - DYOR - never invest what you can't afford to lose*