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RE: Is This The Bottom For Bitcoin? You decide!

in #bitcoin6 years ago

Good post, lots of good information, let me give you my input:

In the last quarter 2018 we saw crucial layoffs across the space combined with a mass extinction of alt-coin projects that just couldn't survive the crypto-winter.

You saw a huge layoff in STEEM, there are still way too many projects around, the only known project that got sick was NEM and maybe SUB(they are trading with their ICO money), we still have 2k cryptos in the coinmarketcap, the only true crypto that died was bitconnect. Either this bear market kills all of these shitcoins or we will go bull again and the whole market will be taking value from good projects, shit coins pumping with the money ETH, EOS, STEEM, BTC, etc... deserve! We need to kill the market now or we will be in for a bad surprise! Just like it happened in the dotcom bubble! The market went so down that many companies went bankrupt, we need that exact same thing to happen in cryptos!

Sure you could have gotten yourself more BTC for less fiat if you could have timed the bottom perfectly but how likely is it that you would have nailed it perfectly?

You never try to buy the bottom, that is the worst idea people have about trading... You try to buy the reversal... which is clear as day when it happens, we just need to do a breakout of the bear market trendline! That's the best time to buy, that's very close to the bottom, maybe you won't be able to buy at the absolute bottom, but you will buy very near it... now , for how easy it is to spot a reversal, I made a post about it if you happen to want to read it, It's past payout so I don't feel like a leech by posting it here. But let me post 3 pics here:

image.png

image.png

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As you can see, it's clear as day... when the price breaks out of those lines AKA Trendlines, it normally means a bull market starts, that's the best time to buy (in the box), it's close to the bottom, the price actually breaks out and retests the line to confirm that the bull market is about to happen!

I spent the last 6 months learning a little TA, I've talked with many traders, and they all know this... It's common knowledge in the Trading field, most Steemians don't know this, try to share it around, so people can finally stop losing money trying to buy every dip and getting dumped on!

Oh and when the price actually bottoms, the price almost never ever goes bull that exact same moment, we normally have a period of consolidation that takes months, and we normally bottom 2 times at least, so the pattern makes a M not a V, let's say the bottom is at 1800$, the price drops to 1800$ goes on a mini bull-run, consolidates an at the end of the consolidation phase it goes to 1800$ again to retest that price, go look at 2014 image that I posted and you will see this happening weeks before the bull market started. So that's also a clear sign that the consolidation phase is ending!

If we have bottomed now at 3100$, we need to pay close attention to those 2 events, if the price goes do 3100$ and gets rejected it's very likely that this is the bottom, if it breaks out of that trendline it's a 99% chance that the price has bottomed!

Cheers bud! Good luck on your investments! Just wanted to drop my 2 satoshis on this post :)

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