Bitcoin: Bottoming processes, avoid to "buy the dip" gamble

18 de nov. de 2018

We are quickly going to study the previous Bitcoin bottom symptoms;

2011




2014-2015



What is important to possibly form a bottom:
=> Smmas pierced and support established on them
=> Major rounded bottom with a double bottom present in a period of several months

There is no bottom special candle as some people are saying on social networks, there is nothing that shows the bottom is here in a week, unless the chart prints a V reversal


A bottoming formation is generally a long process unless it is a V reversal (F.e. Nasdaq Composite in 2000)


Only time, and patience can tell.

Gl to you

18 de nov. de 2018

Nota

This is of course an analysis and not a trade, we want to see after it happens, the type of bottom Bitcoin will form.
Chasing the bottom is very risky and absolutely not recommended.
I do not think Bitcoin will crash to zero, it is very probably here to stay, but after having dipped below 6k, all now is to be a wait and see situation with care, unless you want to purchase and hold for years.
Will you be able to hold Bitcoin and alts even if Bitcoin reaches a value as low as for exemple 1.200 dollars?
The break of 6k, unless a spring appears (reaching 6.400$ this week for exemple) is a real and true damage of the current Bitcoin structure.