Re: Bitcoin Price: Analyst Willy Woo Says Bears Still Have the Upper Hand
⭐ Merited by bones261 (1)
Anyone claiming that bitcoin is bullish at this point is severely jumping the gun. The market has been bearish for nearly 1 whole year now and nothing short of a big bullish movement spanning 1 - 2 months is going to convince a large portion of people otherwise. So many people called the bottom at 6k and they were wrong, it could be true for 3k as well.
There's an ancient Chinese proverb for this: "He who picks bottom has smelly finger."
Bottom pickers and knife catchers always get punished by the market. The bottom will only be clear in hindsight, long after it happens. There's no point predicting a bull market as long as we're below the 200-day and 20-week MAs, for starters.