Since June 6, 
BTCUSDT has been going down below its MA-50, then MA-150, then finally, its MA-200 for the first time since October 2023.
Has Bitcoin reached its bottom? I don't think so.
I consider Bitcoin a trading position, the same as stocks, futures etc., nothing more and nothing less. As a trend-following trader I am looking to enter a trade (long) when there is an evidence of an uptrend. I do not short Bitcoin.
The last time I was stopped out of the trade is on June 19 when Bitcoin closed down below its MA-50 (see the related ideas section for the details) I have been on a side.
While I don't think Bitcoin has reached its bottom for now, I am open to any possible scenario because I follow the trend, not my own predictions.
If Bitcoin will move up its MA-50, 200 I will start looking for a bullish pattern again.
BTCUSDT has been going down below its MA-50, then MA-150, then finally, its MA-200 for the first time since October 2023.Has Bitcoin reached its bottom? I don't think so.
I consider Bitcoin a trading position, the same as stocks, futures etc., nothing more and nothing less. As a trend-following trader I am looking to enter a trade (long) when there is an evidence of an uptrend. I do not short Bitcoin.
The last time I was stopped out of the trade is on June 19 when Bitcoin closed down below its MA-50 (see the related ideas section for the details) I have been on a side.
While I don't think Bitcoin has reached its bottom for now, I am open to any possible scenario because I follow the trend, not my own predictions.
If Bitcoin will move up its MA-50, 200 I will start looking for a bullish pattern again.
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