The Bottom After the Bottom
Bitcoin Data Newsletter Premium
Hello Everyone!
Bitcoin is undergoing some confusing times, as analysts on X struggle to make sense of the current price action.
Price made a brief surge from $26,000 to $28,000 on August 29th, which had many bulls rejoicing and declaring victory.
Ironically, almost the entire move was retraced shortly after, back down to now prices just under $26,000. Bearish analysts then took their jab and staked their flag of rightness.
I myself have adopted a slightly more bearish tone, as Bitcoin lays under healthy supports like the 20 Week Exponential Moving Average. But I stay hopefully optimistic that the bull market fake out can end sooner than expected.
Last newsletter we talked about “preparing for the last chance to buy”. Being below healthy supports gives way for a possible buying opportunity for those that need it.
As I have looked through data, One theme seems to be reoccurring, a bottom after the bottom. No, I don’t mean new lows, I mean a bottom that comes lower on data but higher in price. Or a just a secondary bottoming point.
This marks what we talked about, a possible last chance buying opportunity.
We’ll be taking a look to see how close we might be to this secondary bottom. Is it possible that it’s already in? What is the likelihood of lower prices? How can so many people on X be bearish and Bitcoin still go lower?
All to be talked about and more.
Before we get started, I wanted to tell all premium subscribers about a new benefit I have created for you all, a Premium Indicators page! Typically, in our Telegram Channel, I post daily extra information on all my charts. This will now be included inside this page alongside links to the live charts in TradingView. This will give you a much better view of my work.
This is premium access only. You can view that page here:
I will be consistently updating this page with future posts on X.
Let’s go ahead and dive into today’s newsletter!
This Newsletter Will Cover…
Market Psychology - Bears vs Bulls
Data Analysis - Finding the Bottom after the Bottom
Projections - What Do I Think Comes Next?
What Should You Do? - Wait to buy?