Everyone thinks a $BTC bottom means instant green candles, but actually the nasty part is often the 1,3 months after the “bottom signals” show up.
This is where traders get chopped to pieces. They fomo the first bounce, overleverage, then get flushed right before the real recovery starts.
case study: bitcoin closed july around $62.8k, sitting just under its 200-week moving average, with monthly rsi at 43. historically, that combo can point to a bottoming phase, but not a clean “send it now” setup.
the warning is simple: bottoming is a process, not a candle. $BTC can look strong, pull in late longs, then still do one final flush before the market actually turns. same thing can drag $ETH and $SOL sentiment around too, because majors usually set the tone.
so if you’re trading this zone, the risk isn’t being bearish forever. the risk is getting impatient and losing your stack before the recovery even begins.
what’s your take on $BTC here, bottom forming or one more shakeout first?
#Bitcoin #BTC #CryptoTrading
This is where traders get chopped to pieces. They fomo the first bounce, overleverage, then get flushed right before the real recovery starts.
case study: bitcoin closed july around $62.8k, sitting just under its 200-week moving average, with monthly rsi at 43. historically, that combo can point to a bottoming phase, but not a clean “send it now” setup.
the warning is simple: bottoming is a process, not a candle. $BTC can look strong, pull in late longs, then still do one final flush before the market actually turns. same thing can drag $ETH and $SOL sentiment around too, because majors usually set the tone.
so if you’re trading this zone, the risk isn’t being bearish forever. the risk is getting impatient and losing your stack before the recovery even begins.
what’s your take on $BTC here, bottom forming or one more shakeout first?
#Bitcoin #BTC #CryptoTrading