Did Bitcoin Really Find Its Bottom? Technical Analysis





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When should we expect a new Bitcoin bull run? Will Bitcoin go below $6,000 before the next run or has BTC really hit bottom? Mark will take you through the charts and also look at the S&P500 that took the steam out of crypto.

Mark is an active trader and shares his technical analysis of the charts. He is not a professional advisor but shares his knowledge so that you can have a foundation to do your own research and make informed decisions on your investments. Always do your own research and never invest more than you can afford to lose.
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33 replies
  1. David Barker
    David Barker says:

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    Reply
  2. Rex Mentula
    Rex Mentula says:

    But hey, theoretically a descending triangle is a bearish pattern, yes. I get it. But what many textbook-analysts don't get is that it has always been a bullish pattern historically for BTC – from all the way back in 2010 to (hopefully?) today. I have no idea why this is, but I suspect it is because it's a new and emerging market and thus does not follow the same "rules" as traditional markets.

    Reply
  3. Rachid Belg
    Rachid Belg says:

    it will be a mutation from the old stock market to the new cryptocurrency market,that the central bank s and the fed will inject the quantitatif easing on the cryptos and the stock market will crash,wait and see

    Reply
  4. Old Fart In Crypto
    Old Fart In Crypto says:

    good to see you back, excellant video Sir! that .618 fib has been that key area to watch, I tend to think my outlook that I commented about months ago, "bitcoin will come down to 3-$5000" i think we registered that and came back up running a channel in that $6200-$6700, now im thinking it was a big big mistake that futures contracts and shorting came about before etf, index's, DAR, Insurance, and custody! so all the people that bought the high are probably going to sweat it until Mar. next year or longer, thus we have a lack of confidence from the retail investors, which is what ran the price up to begin with.
    The CME publicly said they would tame bitcoin, and Jay Clayton did say what is the value of bitcoin, value is worth the cost to mine it! "we are dangerously close to break even " thus the good old boys are winning the battle politically within the space, institutions buying at a discount, spreading fud to the public, and artificially repressing the market.
    So the very reason and established theories by the creator have been broken, shaping the space into something totally different from it original intentions, some regulations are needed, but I tend to think the gov will over regulate it killing the volatility that made big gains possible for the little guy.

    Reply
  5. André D.R
    André D.R says:

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    Reply
  6. Ten Four
    Ten Four says:

    Bitcoin found a bottom, underneath that 6k support line are all the miners who hold the majority of bitcoin, they have invested on average 6k per btc, they are the last majority, so i dont see them trying to sell for below that price or to buy back in lower because… they own the majority.

    Reply
  7. Earth Walker
    Earth Walker says:

    I'll probably end up selling and taking minimal losses before it breakouts the support. The volume is not helping either. Its pretty low. I'll wait a couple days until we get a bit closer to the end of the triangle and make judgements then. If it reaches the tip then I'll keep monitoring my holds. Goodluck everyone.

    Reply
  8. Jimmy b747
    Jimmy b747 says:

    crypto are like the Titanic it's going down down down down down down. like the great don mearidith would sing turn out the lights the party over. and the party for cryptos is almost over. the long term super chart shows the shit storm is coming. you have a great channel keep up the good work thank you

    Reply
  9. mike ledesma
    mike ledesma says:

    Any price rally from the current triangle is not a valid bullrun. We still have to break down the lowest low $5738.77 first and establish a solid floor and a true bullrun begins

    Reply
  10. doopy noo
    doopy noo says:

    Hit the thumbs up! Classic fundamental charting with a finger on the pulse of this market! Yes, fundamentals go out the window in these low volume scenarios but it is fundamental to know that. The best charting video on bitcoin ever!!!

    Reply
  11. Rhino
    Rhino says:

    Btc has never correlated with s&p. If so, we would have been in bull trend, last 9 months. One drop at same time s&p drop, does not equal a trend.

    Reply
  12. Rhino
    Rhino says:

    Good TA says btc has 70% chance for a big break down. I am not a gambler, and go with the percentages. Still a 30% chance to break to the upside, but too much resistance to go up very high. Go to usd, and wait for the big drop, and then go shopping!

    Reply

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