#Bitcoin heading towards $4800-5000 for a long term bottom
#Bitcoin has never broken 200 DMA(Weekly) and had formed long term bottom at RSI(Weekly)30, twice in the past.
The first time it formed the long term bottom with these 2 conditions was Jan-15 where is formed a long term bottom of 150 and then rallied more than 1000%
The second time this happened was in Dec-18 where it took the support of 200 DMA(Weekly) and formed a bottom at 3000 and rallied more than 400%
Looking at the price actions Bitcoin is going towards the target of 4800-5000
The first time it formed the long term bottom with these 2 conditions was Jan-15 where is formed a long term bottom of 150 and then rallied more than 1000%
The second time this happened was in Dec-18 where it took the support of 200 DMA(Weekly) and formed a bottom at 3000 and rallied more than 400%
Looking at the price actions Bitcoin is going towards the target of 4800-5000
Comment:
In the Short term, it can take support at 6600-6800, the lower level of the channel running from July-19