Bottom Really in? The State of Bitcoin last 125 Days (Patreon)
Content
The 125 day bitcoin story.
You can see the bottom of 17,567 is most prob the bottom barring any black-swan. I have felt that all along however now others are chiming in and saying it was the bottom eg Kratter, Tom, TastyTrade etc (per Hondineer) and we have heard others speak openly - Pantera, Tom Lee, Mark Yusko, ARK etc.
A few key lines:
- The 200-day moving average is very high $26,500
- We are skirting under the 50-Day-moving average $19,700
- and also still under the 200-week moving average $23,600
- Bitcoin Realized Price $22,347
The level of volatility means many expect a move soon as it has been so quiet for a long time. Ben thinks it is to the downside 12-15K we shall see.
I personally have made my bets on crypto and now balancing the bags with some equity positions while still holding some cash. I still have a trading bag where I get in and out when I identify good ranges and good entry points.