Agent_Bambi

Bitcoin: Creating a new Bottom

Long
COINBASE:BTCUSD   Bitcoin
Here's a chart an some ideas for roughly the next month... I'm watching the end of the month of May closely- when contracts expire. Depending on what Bitcoin does in the next two-three weeks I will be watching for three scenarios. First, to go sideways through most of the month of June, which would most likely create an "inversive head and shoulders. Second, for this to form into a "double bottom", and in that case I expect Bitcoin dominance to regain some territory; with this scenario I expect alt-coins to go sideways or lose value in terms of US dollar value. Lastly, I will be watching for this pattern to break down and capitulate causing the total crypto market cap to make a new bottom below 2 trillion. Not Financial Advice... CHEERS!
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