Image for post
Image for post

As Bitcoin dumps again and is trading slightly below $3500 at the time of writing, I think Bitcoin may have hit bottom. This is very much the contrarian point of view right now. Everyone from Crypto Twitter, YouTube, and the mainstream media is anticipating lower lows and it’s almost a given that Bitcoin will reach sub-3k prices. I’m taking the contrarian point of view for a variety of reasons. The 200 weekly simple moving average is a major support level and Bitcoin marked its current cycle low by bouncing strongly off of it. I’m not a professional analyst and so this is where my TA ends. …

About

Think Outside the Blox

Cryptoasset enthusiast and investor. Futuristic economics. Twitter: @outsidethebloxx Steemit: @rompo007 BTC/BCH/BSV: 1PASkYbbru5LmGQeRC9Uvpys4H3ERWRDnU

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store