BTC Bitcoin bottom around the corner

After the recent fall of Bitcoin from his its lofty highs in the mid $19,000 to $20,000, we have seen it fall to $6,000 in 6 months. Many have referred to BTC as being the largest bubble since tulip mania. Although most can agree cryptocurrency, block chain & BTC are here for the long run. Its hard to ignore the similarities between the current BTC chart and the chart below!

But what stage are we at within this chart? Add your comments below

For what its worth, I think we're moving through capitulation and about to find our floor at the end of July. The good news and the bad news is that DESPAIR is around the corner.

Looking at the chart below & using volume and its visible range . You can see by the purple / turquoise bars that the bulk of BTC was bought during those prices.

The first resistance (red) at around $5,800-6,000 has been tested and is currently breaking. This is not going to prop up or bounce the price of BTC.

The 2nd resistance (blue) does have a high chance of a successful bounce. Price target is $4750-$4900. This is an important area. Watch for large volume buying here.

If we crash through $4,750 the bottom can be much lower than resistance 3 based of fundamentals & BTC confidence. This wont be a bad thing, means we can but BTC even lower. But look for a bounce and price target around $3400-$3550. As you can see by the visible range, theres a huge support around the price of BTC at these levels. Buying a small amount here regardless is smart. Remember when BTC was $16k, $17k, $18k and we all wish we could have loaded up around $3 and $5k. Well were going to get that chance!!!!

Either way I am hoping and expecting BTC to bounce at one of these support levels! And although it wont sky rocket back to all time highs, it will move back up and retest those highs in a more natural and less volatile fashion. INVEST SMARTLY. And look for strong confirmation at these resistance levels before getting back in the market.

Good luck :)