Quote from: pawanjain on June 23, 2018, 01:26:09 PM

According to observation, I think we are at the bottom and now and there are high chances that the price of Bitcoin might go upwards in a few weeks.
The last time Bitcoin cam this down, the next few days BTC went upwards quickly. So I believe that the price might soon cross $7500 in a few weeks.
We should hold our coins tight in this critical time because sooner or later the correction will end we will see a spike soon.

Are you just looking at the horizontal price level? Sure, there should be a bounce here. But it's too early to say if this is a meaningful bottom. I need to see a major reversal from bulls and support on the subsequent pullback before putting any stock into it.

The bears have a few things going here. We dropped from a long term mode ~ $7,800-$8,000, then we we retested it and failed. A supply event off a mode failure is a pretty bearish setup based on Tim West's system, which has served me well. I'm waiting for a better short-term setup or clearer failure before reentering shorts, but it doesn't look good.