Zargham
Giá lên

Bitcoin-Calling the Bottom

BITFINEX:BTCUSD   Bitcoin / Đô la
Keep it Simple. Bottom: 6700-6000 range.
Technicals:
I've seen countless "complex" TA for the past month surrounding bitcoin             , everything from around "crystal ball" predictions or using imperfect ratios with harmonic patterns to predict a fall down to the 3-4k levels. The most powerful tool in a trader's arsenal is always the most simple one: trend lines .

Most traders have failed to plot the simple upwards sloping trend line , which traces all the way back to September. As we can see, bitcoin             has respected the support line throughout the correction. I don't see why the probability of bitcoin             respecting this trend line would fall now. I will be setting up buy orders in this range to cost average for a long term position. Remember, bull runs just like crashes always start when least expected.

Fundamentals:
The Bitcoin             Consensus Conference is coming up May 14th, which lines up with the bottom and a potential run up in May. Last year's iconic bull run in May, also started in the run-up to this highly anticipated conference.
Goes without saying, this is not financial advise. Please do your own research.
Bình luận: Price is still respecting our simple support trend line.
Bình luận:

ETH/USD has also almost bottomed out. This support line traces all the way back to May 2017.
Bình luận:
Price is struggling to break up frrom the downtrend line. Also the EMA 200 is also right above the downtrend line right now. Nonetheless, I am fairly certain that our uptrend support line will hold and we can expect prices to break up before May
Bình luận:

Gradually breaking up the downtrend line.
dig it! agreed.
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Zargham xxxSALTHEART
@xxxSALTHEART, thanks, appreciate it!
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