BTC local bottom reached, looking upwards
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This is my personal opinion by looking at the trends, downtrend (month ago) and uptrend (now), I can see that we have hit the local bottom already just like we hit 6500-6600 few weeks back.
I can see that the first circle/ellipse that I made (during downtrend), is going to be turned upside down (because its an uptrend)
Mostly every other TA is telling that we are going downwards however I feel that creates a FUD..
In current scenario, I don't think we are going down even if not going up a lot higher than what we already did. In short term, we are going to try and touch 10k again... look for it.
I can see that the first circle/ellipse that I made (during downtrend), is going to be turned upside down (because its an uptrend)
Mostly every other TA is telling that we are going downwards however I feel that creates a FUD..
In current scenario, I don't think we are going down even if not going up a lot higher than what we already did. In short term, we are going to try and touch 10k again... look for it.
Nota
Another indication for BTC to go up is alts going up before it... not looking for a super fast bull run though but things are getting better for now, slow and steady (and that's good).Nota
Look at the alts, almost everything is up, clear indication that BTC will still go up. Here is what I have noticed... and I might be wrong, BTC will keep going up until alts are going up. BTC will start to go down when alts start to show resistance.What does that tell us?
First of all, whales are accumulating at this time. Alts are going up and BTC is slowly moving up means, everyones buying BTC to buy Alts (which are mostly bought from BTC and thus people buy BTC first then use it for Alt, resulting in BTC's steady growth).
What's next.. as usually happens (unless whales dump it right away), everyones gonna start taking profits from alt and alts go down, BTC would shoot up at that point and after that, everyone dumps BTC as well.
I know I am not telling anything new here but that's exactly whats happening today and that's my point. So if you want, keep investing in BTC at the moment and see it going up. Moreover its an uptrend so good days ahead for BTC anyway!!
Happy trading!
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