Hi
Been wondering how to tell we have reached the crypto bottom? have we already bottomed out(I personally don't think so im not sure). If we look at the current world financial system - it looks dire. surely this will all have a impact on people investing in crypto and when funds are short, may even withdraw their investment.
Personally, because of the state of the financial system, I cannot see how crypto can become bullish as long as the world economy doesn't show signs of a recovery . I could be wrong though ?
what are your thoughts on this? Is a further crash on the horizon?
Your best chance is to keep an eye on previous resistance(peak on the graph) because it usually turns in to support when the trend is reverse. The stronger the resistance before means the stronger support it will be especially on the price the divisible by 1000 and 500 because trader usually set an open order near that price. You can’t determine the exact bottom but you can do an educated guess by using common knowledge on technical analysis.