Is the BTC bottom in?
Hey everyone,
I just wanted to share a few remarks about the recent situation on BTC charts. It looks like we're almost touching the bottom based on the log regression curves and previous lowest RSI points. BTC might oscillate a bit near the lowest regression band however, it looks like it either: respects the band and climbs back to the band area (just like after the covid or shows a new, even deeper bottom and lowest RSI point. I think that the current stablecoin frenzy is not as significant as the Covid crash in March of 2020 and should not lead to a new bottom. From a fundamentals POV, Bitfinex is recording a large volume of new BTC Long positions and the 3rd largest BTC address has bought BTC 5 times in the past 3 days. This might be a perfect long setup. My TP is set to 35500 USD and SL 27300. Best of luck , stay safe and remember to dyor.
I just wanted to share a few remarks about the recent situation on BTC charts. It looks like we're almost touching the bottom based on the log regression curves and previous lowest RSI points. BTC might oscillate a bit near the lowest regression band however, it looks like it either: respects the band and climbs back to the band area (just like after the covid or shows a new, even deeper bottom and lowest RSI point. I think that the current stablecoin frenzy is not as significant as the Covid crash in March of 2020 and should not lead to a new bottom. From a fundamentals POV, Bitfinex is recording a large volume of new BTC Long positions and the 3rd largest BTC address has bought BTC 5 times in the past 3 days. This might be a perfect long setup. My TP is set to 35500 USD and SL 27300. Best of luck , stay safe and remember to dyor.
Feragatname
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