CoinNX | Willy Woo

I do numbers, mainly #Bitcoin related. I only post here, all other channels including Telegram are scams.

The next test for BTC is cleanly breaking the cost basis of recent investors (79k). I give it 30% odds on doing this on this attempt. After that, if BTC manages to hold this price level above 65k and not break down, then the chances of a structural bottom increases significantly. BTC is currently attempting a bottom, but all the pieces are not yet in place, the next 3-6 weeks will be telling.

Willy Woo @willywoo ·

3 things happen at the end of bear markets. 1) price cleanly breaks the cost basis of recent investors (circles). 2) idle smoking of hopium gives way to rabid clicking of the BUY button chasing the price 3) this raises the cost basis (red line transitions to green) https://t.co/bz5RDIM1PP

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Disclaimer: The above content reflects only the author's opinion and does not represent any stance of CoinNX, nor does it constitute any investment advice related to CoinNX.

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