Topic: I think Bottom is gone - page 7. (Read 888 times)
It appears so for now but we will never know for sure. What if another bad thing happens tomorrow and bitcoin/stocks make a nosedive? To be honest,I think technical analysis is bullshit. Anybody can draw any line on any chart. Yours isn't an exception. Everybody says something according to TA but there is no one TA, everybody makes their own. People were saying bitcoin was cheap when it was $30k, then it went to $15k. According to them $30k was the bottom. Where are they now? Making new charts.
the bottom is set. it still sits at ~$15k and the speculative market could test that again
i dont see it going below that again(unless multiple months of hashrate being below 2022 levels). its set and tested well, but the price can come back down to/near that again.
but chances are lower than q3-q4 2022 now the $17k resistance (top for period) has gone
the speculative market was held artificially below a $17k top resistance by some futures traders wanting their new years $17k limit contracts to expire at new year.
and now they have removed the resistance to free speculation to trade above it.
however too early to call "bull"
last year saw resistance also at $22k $24k $32k $42k $52k
so we have to see where the next resistances(tops for period) come
(at time of posting: last 7 hours see an artificial flatline of <$21k .. this could be the next resistance if it doesnt break through soon)
as for market cap number.. its a meaningless number. dont put any emotion or thought into it.
i dont see it going below that again(unless multiple months of hashrate being below 2022 levels). its set and tested well, but the price can come back down to/near that again.
but chances are lower than q3-q4 2022 now the $17k resistance (top for period) has gone
the speculative market was held artificially below a $17k top resistance by some futures traders wanting their new years $17k limit contracts to expire at new year.
and now they have removed the resistance to free speculation to trade above it.
however too early to call "bull"
last year saw resistance also at $22k $24k $32k $42k $52k
so we have to see where the next resistances(tops for period) come
(at time of posting: last 7 hours see an artificial flatline of <$21k .. this could be the next resistance if it doesnt break through soon)
as for market cap number.. its a meaningless number. dont put any emotion or thought into it.
Hello,
My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion
and daily chart is looking bullish according to technicals with high volume
https://ibb.co/HhJdtvJ
tell me if i am wrong or right experts
My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion
and daily chart is looking bullish according to technicals with high volume
https://ibb.co/HhJdtvJ
tell me if i am wrong or right experts
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