It’s all over! Bitcoin has dropped to 73K—is the bear market really coming? Is it time to buy QQQ? Let’s take a look.
1. First, the most important question: has Bitcoin bottomed? As you can see, believe it or not, Bitcoin’s daily RSI has reached the lower end of the oversold zone. Our opportunity is here!
2. Based on Bitcoin’s data over the past 3–4 years, whenever the price has reached this level, it’s most likely been a major bottom. Even during the bear market earlier this year, the price bounced 30% after reaching this level. So even if we assume the bear market really is here, prices won’t keep falling forever. After a big drop, a strong rebound can come too.
3. So buying in the 70K range is very likely to be a great opportunity to make a lot of money—and potentially quite a bit—even if this is a bear market. In fact, I don’t think we’re really in a bear market now. It’s more like a normal consolidation after a big bull-market rally. The large holders I’m watching are still accumulating and buying.
4. Aside from the indicators, looking at the candlestick chart, 75K has been breached. Fortunately, yesterday we told everyone to take profit on their long positions at 76K and hold spot only. Over the past few weeks, we went long several times at 75K and 76.5K, and took profit every time—no regrets. So what’s next?
5. Now that 75K has been breached, the next major support is around 72.4K. Needless to say, as we get close, I’ll be aggressively opening a long position just above it, because this is very strong support and could bring a substantial rebound. It could even be the ultimate bottom. If price comes down here, I’m ready to get in. My order is already placed. I’m not worried about it coming—I’m worried it won’t!
6. Besides that, the U.S. stock market is also getting close to strong support. QQQ’s strong support is around 640, and I’ve already placed a spot buy order too. I’m rubbing my hands with excitement—if I can buy here, I should make a nice profit. Whether it’s crypto or U.S. stocks, I’m making trades in real time every day~
1. First, the most important question: has Bitcoin bottomed? As you can see, believe it or not, Bitcoin’s daily RSI has reached the lower end of the oversold zone. Our opportunity is here!
2. Based on Bitcoin’s data over the past 3–4 years, whenever the price has reached this level, it’s most likely been a major bottom. Even during the bear market earlier this year, the price bounced 30% after reaching this level. So even if we assume the bear market really is here, prices won’t keep falling forever. After a big drop, a strong rebound can come too.
3. So buying in the 70K range is very likely to be a great opportunity to make a lot of money—and potentially quite a bit—even if this is a bear market. In fact, I don’t think we’re really in a bear market now. It’s more like a normal consolidation after a big bull-market rally. The large holders I’m watching are still accumulating and buying.
4. Aside from the indicators, looking at the candlestick chart, 75K has been breached. Fortunately, yesterday we told everyone to take profit on their long positions at 76K and hold spot only. Over the past few weeks, we went long several times at 75K and 76.5K, and took profit every time—no regrets. So what’s next?
5. Now that 75K has been breached, the next major support is around 72.4K. Needless to say, as we get close, I’ll be aggressively opening a long position just above it, because this is very strong support and could bring a substantial rebound. It could even be the ultimate bottom. If price comes down here, I’m ready to get in. My order is already placed. I’m not worried about it coming—I’m worried it won’t!
6. Besides that, the U.S. stock market is also getting close to strong support. QQQ’s strong support is around 640, and I’ve already placed a spot buy order too. I’m rubbing my hands with excitement—if I can buy here, I should make a nice profit. Whether it’s crypto or U.S. stocks, I’m making trades in real time every day~
