15,600 was local bottom, and someone in GLP already said that was bottom. i hope they are wrong cause i’m sitting in cash, just waiting to pounce.
Quoting: Anonymous Coward 84062237 it probably won't go below 15k until mid/late february. if i am right, it's going to float in the 15k-17k range for a couple months to lull everyone to sleep.
i do believe that they are wrong about it being the bottom. stock market volatility just picked up (which almost always brings crashes). the last 6 times stock market picked up volatility, bitcoin has crashed. all 6 times. the fed just did whatever they did to rates which also almost always brings crashes.
it's not made a bullish harmonic.
it's not made a bullish pattern.
it broke a fairly good size trendline bearishly a couple days ago indicating it will trickle down the coming few days.
it has not had a major bearish impulse(bear market finale) which is how bitcoin likes to operate before bottoming.
price is also currently under 17.5k (that crash bottom we made in june 2022). being under that is not good. there is no way to say we are bullish while under that price level. no way at all. not even a little bit.
in my opinion, if it was the bottom then it is breaking the rules of t.a. by actually being the bottom. in my opinion, it's impossible for that to be the bottom.
temporary bottom, sure. permanent long term bottom? highly doubtful.