We have entered the second year of a Bear Market.
Theoretically, if Bitcoin is able to hold the support at the peak of 2017's bull run, we may see a reverse in the bearish momentum and the start of a new accumulation phase.
I say this phase has already begun. So, what do you guys have to say?
Many people do not believe in the charts ot technical analysis in Bitcoin. They believe that the fundamental analysis drives everything that happens in the market.Theoretically, if Bitcoin is able to hold the support at the peak of 2017's bull run, we may see a reverse in the bearish momentum and the start of a new accumulation phase.
I say this phase has already begun. So, what do you guys have to say?
They may be very correct about it but I want to let them understand that whatever happens in the fundamental is being replicated in the technical. So the chart might be slow to pick what happens im the fundamental but what the chart helps us to do more is to trace what has happened before (history) and the tendency of it to repeat. So both of the fundamental and technical analysis are important in Bitcoin.
As for what the topic starter is saying I am not an expert in reading chat but I do know that we are in the bottom but $16000 might not be the lowest . My expectation is at worst get the 10000 dollars which may also not happen but this is truly the period where everyone should be accumulating