$BTC When sentiment slowly starts turning bullish again, that’s usually your sign that the bottom isn’t in yet. Over the past few days, I’ve seen several accounts on my timeline claiming the bottom is already in and that the “biggest bull run of all time” is about to start. But trust me when I say this. The probability that this was the bottom is negligible. There are still many signs of a true bottom formation that we simply haven’t seen yet. For example, total capitulation, repeated sweeps of the lows, or a confirmed shift in market structure on higher timeframes such as the weekly. Don’t get me wrong. I know that cycles evolve and that we cannot rely one hundred percent on past data. But believing that the bottom is already in would imply that this cycle bottomed three times faster than any previous Bitcoin cycle. If you want to believe that this is the bottom that’s okay, but don’t say I didn’t warn you…

Share







Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.