A few weeks ago I wrote a post Are cryptos trying to bottom? giving you heads up for what might happen. I invite all readers of this post to read that one as well, because now I just want to give you a brief update on bitcoin. There’s a great chance the bottom is in.
Let’s jump straight into it. Here is a daily chart of bitcoin with a potentially huge breakout of a bottoming formation.
If the price can stay above $4,200 and €3,700 we can be very constructive towards bitcoin.