SUMMARY: Very Bullish, we are at the cycle bottom or close to the bottom. Anyone want to get into crypto market and BTC, here is your chance.
-- Technical -- BTC is relatively oversold on RSI - bullish
Pushing the lower bounds of the daily Bollinger bands and falling below the EMA on the weekly - doesn't happen often in bull market for weekly - very bullish.
The 8 weeks cycle is near complete, we had consolidation for a couple of months and with a 8 weeks low. There was a sell off on US equities SP500 and NASDAQ that contributed to BTC's fall.
-- Fundamentals -- Still strong with a record amount of BTC being put into cold storage.
China FUD about banning crypto came back. FYI China blows hot and cold with crypto every could of months. Also, China officially banned cryptocurrencies about 10 years. It is a complete paradox, China has has some the biggest crypto exchanges and funded NEO blockchain, yet it is banned.
$$$ Happy Bull Market Alts season is here $$$
Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----
*Not financial advice and is for educational purposes only. Always DYOR.