Feb 21st - Bitcoin Daily Market Update+ROUNDING BOTTOM RECOVERY

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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Also drop a comment and tell me where you think Bitcoin and market is headed in the short-term. Also are you bullish or bearish on the market fundamentals and why?



PS - Always feel free to message me on tradingview, email or twitter if you want to talk crypto. I'm always looking to collaborate with anyone at all levels of trading.


I think bitcoin market is recovering nicely. As you mentioned we are stepping up and holding a tight range but there is a lot of hesitation from all the traders who for the entire crypto winter have made money shorting every rise. I think it will be a hike back up to 6k levels, however I am excited about a nice slow climb up, which gives smart traders the chance to accumulate during these sideways movements.
+1 Reply
WolfpackCrypto timmy_aussie
@timmy_aussie, smart outlook you have. BTC is in a critical junction right now. As long as we can hold the 200 Week MA (currently at $3,350ish coinbase prices) we are building that foundation for upward momentum as you say. There is lot's of hesitation in the market for sure and is characteristically normal given the market cycle we are in. Every peak to trough was rejected at the 61.8% Fib extension. BTC is currently testing that level right now again. If we break above $4,400 this will be early signal that the BTC bottom is in. Thanks for watching and commenting!
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