Where's the BTC bottom?
Is the bull market over?
IMO not by a long shot. If anything this gives folks another opportunity to buy BTC (and Alts) at a discount.
In the grand scheme of things a correction is healthy and BTC will be stronger because of it.
Here is an idea I have about where the bottom of the correction may be found via a harmonic pattern.
A Bullish Butterlfy may be forming. From point C we can come down to the 1.272, 1.414, or 1.618 levels to complete the pattern.
From that point I would expect a reversal wave shooting us back to the ATH.
Trade idea: Short BTC. BTC has already broken below the trend line connecting X-B. It came up and was rejected and now that line is acting as resistance. If it falls below the level of X ($43016) you can consider taking short positions down to the previously mentioned levels.
Wherever BTC finds bottom I don't expect it to stay there very long, though it may take a while to get there.
Let me know what you think.
Is the bull market over?
IMO not by a long shot. If anything this gives folks another opportunity to buy BTC (and Alts) at a discount.
In the grand scheme of things a correction is healthy and BTC will be stronger because of it.
Here is an idea I have about where the bottom of the correction may be found via a harmonic pattern.
A Bullish Butterlfy may be forming. From point C we can come down to the 1.272, 1.414, or 1.618 levels to complete the pattern.
From that point I would expect a reversal wave shooting us back to the ATH.
Trade idea: Short BTC. BTC has already broken below the trend line connecting X-B. It came up and was rejected and now that line is acting as resistance. If it falls below the level of X ($43016) you can consider taking short positions down to the previously mentioned levels.
Wherever BTC finds bottom I don't expect it to stay there very long, though it may take a while to get there.
Let me know what you think.
