Is the Bottom in Bitcoin In?

2023年1月9日

Interesting chart showing potential new up-trending channel for Bitcoin.

To me, it looks and 'feels' like the bottom is in, coupled with an Alt-coin rally, as the AltPerp Index is showing clear signs up trending up.

Also ETH.D is holding the line in it's uptrend that started back in Nov of 2019, and USDT.D which is inversely correlated to crypto prices, is breaking down below a key trendline support.

At the very least, we have a tradeable bottom forming and looking very good to me here.

On the other hand...

A Gemini collapse, or sudden dumping of BTC by Greyscale to bail out bankrupt parent company Digital Currency Group and Barry Silbert, could still send us lower like FTX part II.

New information = new decision.

But as I always say 'Show me the chart, I'll tell you the news"

And the charts are telling me that all the contagion has been priced in, and money is starting to flow back in here.