Bitcoin: Bottoming and Consolidation Process
"So for the next several weeks, Bitcoin is going to be going through its bottoming process, chop solidation because now that we've touched the 200 week moving average like we did in the bare market of 2022, touched right here, then took several weeks to consolidate like we did in the bare market of 2018 2019."
ℹ️ In shortAltcoin Daily predicts Bitcoin will undergo a bottoming and consolidation process for several weeks, similar to past bear markets after touching the 200-week moving average.
This prediction is awaiting verification.
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… e price reverts to the mean, returns to the 200E moving average 100% of the time. Four out of four. That was a great time to buy and that was around Bitcoin's bottom. >> This is the fifth time right now with Bitcoin at 61,000 in its history where it's been at the 200E moving average. The previous four have all been the perfect time to buy the dip. So for the next several weeks, Bitcoin is going to be going through its bottoming process, chop solidation because now that we've touched the 200 week moving average like we did in the bare market of 2022, touched right here, then took several weeks to consolidate like we did in the bare market of 2018 2019. Touched it, then took several weeks to consolidate. And also like we did in four out of four literally every single bare market in Bitcoin's history, the 200 week moving average, that was the time to buy. And it may not be the exact bottom, right? Bitcoin could get more undervalued. It could become a better buying opportunity. We could spend a cou …
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