I expect further bullish price action in the near term

in #bitcoin2 years ago (edited)

I think the near term lows are in and Bitcoin is likely to bounce from here...

It's been a brutal 7 weeks, but we are due for some relief.

I fully expect the lows to be in for bitcoin in the near term and a bounce to at least the $36k area is in the cards...

image.png

(Source: https://bittrex.com/Market/Index?MarketName=USD-BTC)

Possibly a move all the way to the roughly $38k-$40k area based on the 4h chart above.

If the lows break the bullish thesis is invalidated.

Once this bounce is over though, I don't feel completely confident in saying the ultimate lows are in for this bear market.

It's very possible and probably likely we end up making lower lows later this year.

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Nice try, but you can't speculate blockchain and the stock market. Unfortunately, blockchain is still vulnerable to stock market changes. This only proves that. We'll have to wait for the stock market to recover before speculating blockchain again. Sad, but true.

Oh! Got to be very nimble and alert!

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