4 Reasons Bitcoin Is In A Beginning Of A Bull Market

6k is the bottom?
After the bull run to 20k we had a steady bear market moving down with couple of spikes each one weaker from the last one and then we had the strongest spike at 6k with huge volume! We had already this spikes in the past for example at 15th of September 2017 we bottomed at 3k and had a massive spike in volume creating a new bull run for bitcoin.

Low Weekly RSI
A little over month ago we had the lowest weekly RSI since the end of 2015! Speaking in crypto time frames it's like forever!




Breaking Log Scale Down Trend Line
Since bitcoin was 20k we touched this line twice and each time we had a massive drop afterwards. This time - the third time bitcoin broke this line with increasing volume!





Big Players Closing Shorts?
Look at this huge red daily candle! From an all time high we had a huge drop in short positions at bitfinex!
Most of the shorts closed in one hour moving bitcoin a thousand dollars up from 7k up to 8k in less than an hour! It was one of the biggest hourly volume ever! Can be that some big players accepted that 6k is the bottom and started the next bull run? Maybe..





Legal Disclaimer: This is my opinion, and my opinion only. I am not a financial adviser and the information provided in this blog post is meant for use as informative or entertainment purposes only.
Do your own research before investing your hard earn money and never invest money that you cannot afford to lose.




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