I can post to the moon and back and ramble on about the fundamentals, but what is key for us investors is the chart. So here is why I am starting to get excited about BITCOIN again.
The selloff that we have witnessed the last few months looks bad, but it is actually what is termed in technical analysis a BULLISH falling wedge that eventually squeezes out the bears, and breaks to the upside, I would expect this in the next 45–50 days would be my best guess here.
Our longer term trend at the bottom you can see drawn goes back about 6 months, and so far has not really been broken. So that is another double confirmation that buyers are still in this market for now, and a bear market has not started like some out there are suggesting.
NOW THIS IS THE MOST IMPORTANT. The MACD at the bottom or an indicator that helps determine if an asset is overbought or oversold is currently oversold, but the divergence has been drawn down to the bottom and almost maxed out. This means, that the next rally coming to bitcoin is going to SHOCK and AMAZE many people and could be fast, ferocious and I have never seen it maxed out this much since day 1 of BITCOIN. Its very historica, and this is exciting, and means at some point of 2018 we could see a very violent rally that will ruin BEARS and Maybe see BULLS PANIC to get back in. It might be a case where some bulls leave it too late and miss out altogether! WOW!. NOTE : the macd has not crossed to a buy signal yet, but its getting very close and divergences on the histogram suggest that is not too far away.
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