Bitcoin Update, has it found a bottom? Where from here?
I have posted all relevant info on the chart. I will also link my other published ideas showing how we got here and what I think about the future price action on bitcoin.
It seems to me Bitcoin has either found a bottom and a trend change is in order.
OR
Bitcoin will get pushed down to $33,000 zone and get support there, where the same process will repeat.
I do believe that short sellers will get greedy and we will start to see short liquidations rise at a rapid pace causing bitcoin to recover strong on strong volume as they will have to buy BTC to cover their short positions. Regardless of $35k or $33k support.
Please be cautious when trading this is not to be taken as advice. It is my opinion and how I approach this market.
It seems to me Bitcoin has either found a bottom and a trend change is in order.
OR
Bitcoin will get pushed down to $33,000 zone and get support there, where the same process will repeat.
I do believe that short sellers will get greedy and we will start to see short liquidations rise at a rapid pace causing bitcoin to recover strong on strong volume as they will have to buy BTC to cover their short positions. Regardless of $35k or $33k support.
Please be cautious when trading this is not to be taken as advice. It is my opinion and how I approach this market.
