The reasons why i feel the btc bottom is not in yet.
During the dump -
- broke the uptrend line from last year.
- made a lower low on the weekly.
- will likely break the monthly 21 EMA once the monthly closes.
- Close below weekly 200 SMA.
- Broke the .618 fib levels.
If you are long term believer of btc, now is the time to dollar cost average to long term holdings.
Don't try and catch the bottom, cuz you will likely fail. Don't use high leverage when trading this - books are thin, and risk is high as well. All the beest everyone the winter is far from over!
- broke the uptrend line from last year.
- made a lower low on the weekly.
- will likely break the monthly 21 EMA once the monthly closes.
- Close below weekly 200 SMA.
- Broke the .618 fib levels.
If you are long term believer of btc, now is the time to dollar cost average to long term holdings.
Don't try and catch the bottom, cuz you will likely fail. Don't use high leverage when trading this - books are thin, and risk is high as well. All the beest everyone the winter is far from over!
correlation with spx500.
DXY going up.
USDCAD going up.
Corona virus.
So..yeah! Not looking very rosy atm.