Bitcoin keeps testing the top of the downward channel but is being forced back up above with a huge volume of buys. The MACD is about to reach a upward trend line that has always lifted us out of major dips over the last 6 months. Watch for the turn around of the blue line towards the upside and the crossover. RSI is about to return to oversold so it will be a while before we become over bought again.
Another big factor a lot of people haven't noticed is that we have a large inverse head and shoulders pattern that has been completed.This pattern is extremely bullish. Last time we had just the normal head and shoulders pattern completed it caused this dip we are in now. Just think of this dip but in reverse. That is what will be happing within the next 6 months. Bitcoin has only lost a couple thousand but a lot lof people forget in two months we gained $6,000. If you are selling right now you will be loosing money. This is the time to buy. Its called consolidation.
Another big factor a lot of people haven't noticed is that we have a large inverse head and shoulders pattern that has been completed.This pattern is extremely bullish. Last time we had just the normal head and shoulders pattern completed it caused this dip we are in now. Just think of this dip but in reverse. That is what will be happing within the next 6 months. Bitcoin has only lost a couple thousand but a lot lof people forget in two months we gained $6,000. If you are selling right now you will be loosing money. This is the time to buy. Its called consolidation.
Comment:
Massive opportunity right now to pick up your favourite coins cheap. I wish I had money on a exchange to buy this dip right now.
Comment:
Slight support forming this is very possibly the turn around zone