Idea is simple here. We saw 19k to 9k pullback. Now we are possibly forming the double bottom formation. There are long wick in price candles. All we need now is the volume to kick in.
CCI and BB% confirms this trend theory. RSI although has still some room to go down for Bitcoin.
So lets watch for volume. I am bullish on Bitcoin. Do not have any price prediction in mind but I would say: "Bitcoin, let's go long"
If you are new to crypto-currency, now may be a good time to invest in it. Just put the money in BTC to see how it works. Think you lost it forever and wait for 6 months.
high probability it will go up a bit and then down to around 7.8k-8k first
aritra-b-11
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@eric.schaack, BTC is known to do irrational things. True it may go down, may be in between 8-9k! That will be the best area to buy as the risk will be very low.
severt
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Do you really believe big pumpers will come in before Friday when the futures end? Personally, I don't think so...
aritra-b-11
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@severt, May be not before Friday, but definitely by Mid Feb, I believe downtrend will be done. Let's see.