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Did Bitcoin Hit Bottom? For now, It's Just a Bounce

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Bitcoin hit a low around $6400 last week and has shown some strength over the past few days. I'll cover the levels to watch near-term but for now, I'm treating this as a bounce until we see more upside confirmation. LEARN HOW TO READ THE CRYPTO CHARTS! Check out my 4-Hour Technical Analysis video course. More info at: https://nodeinvestor.com/training/ Follow me on Twitter @nodeinvestor
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Text Comments (45)
jay N (2 months ago)
Check this video accumulation i think this is what’s happening https://youtu.be/BHKm-jsSM6M
Zaza Zu (2 months ago)
I expect eth prices to raise up to $860 this summer, and then to decline below the current level by the end of the year, pretty much like in 2013.
xPowerdriverx (2 months ago)
Good call node... and down goes BTC
Playster (2 months ago)
When Bitcoin hits 7700, I bet we will see a massive short squeeze that takes us instantly to 9000 within a day
Tony Kwan (2 months ago)
Already dropped $500 ,the pump failed
CryptoJane (2 months ago)
Thanks so much, great stuff! :-)
Mitch Dyter (2 months ago)
I am new to your YouTube program and love your explanation. Thank you, will be following you all the way from South Africa.
ETH580 (2 months ago)
The volume is gone because the sellers are gone. the volume will just go back to the level it was at before the huge run up. Back to steady slower growth.
vacca23 (2 months ago)
I'm a new sub as of today. I value the content you have, no BS no tricks just good old chart analysis.
Crypto Music (2 months ago)
Cool, go ahead and bounce back beautiful Bitcoin
The Urban Shaman Osceola (2 months ago)
Maybe you guys should wait til 2020 then it will be safe
eBenkyou (2 months ago)
Oh another crypto video, what are the odds...lol
Lynx Star Automotive (2 months ago)
eBenkyou that is what he does. He is a node investor after all.
Stuart H (2 months ago)
No it can't be....all the TA guys said we were heading down. So I have to follow the herd right? Isn't that when Warran Buffet said I should start buying? When others are afraid or bearish, start buying. When they are bullish or say buy, I should be fearful...(btw, we very well could retrace down a bit...but in this market who knows?)
Stuart H (2 months ago)
I do trade with the trend I see every day. And it changes due to dark pool accumulations and the Coinbase Custody boys and their volume trading HIGH FREQ ALGO BOTS. Any trend you think you see with them can be used against you as they trade counterintuitive, play against the herd, and make massive moves up and down triggering both buy and sell orders to create a perception of fake volume. This happens most at GDAX and I recognize it from my days in the small cap markets where there trading bots would wreck up some of those stocks...and I learned one thing: The BOTS are programmed to draw the sell volume in (and buy when it suits them) and will use it against you eventually and take you broke. So, I trade accordingly and very cautiously in this low volume volatile market. If your message is trade with caution, I am all with you. If your message is follow the herd...be my guest. There is a reason why the herd goes broke and those who figure out why the herd will always be the herd get rewarded. If it was as simple as riding a perceived trend we would ALL be rich.
IRGIORGIO (2 months ago)
Youre gonna get rekt by algo's if you dont follow the herd... Trade with the trend
Stuart H (2 months ago)
Right I agree and was just being a bit facetious.
MrB1923 (2 months ago)
In conventional markets and equity he is correct. I believe crypto markets are a touch unstable to follow that directly.
Ubud High (2 months ago)
Appreciate your news and views man. Thanks.
SDPRZ (2 months ago)
Its a minor bounce back
Martin Dillon (2 months ago)
Can't even call this a dead cat bounce just now, volume pretty low but overall I can still feel a pulse
streetstylz (2 months ago)
BTC needs to break above $12,000 and then its off to the races.
Justin Allen (2 months ago)
Bitcoin is fundamentally weak compared to certain alt coins that have tremendous development teams and updates releasing or going to release this year. That's the thing TA can't predict. I have never used a lick of TA only fundamental analysis and have huge multiples over the years. If you are day trading I can see how its useful but not for longterm.
Ian RJM (2 months ago)
MrB1923 NEVER underestimate the power of a strawberry smoothie either.
MrB1923 (2 months ago)
NEVER underestimate the power of the herd. YOU may have researched the technical teams around other coins, but across the world Bitcoin far outperforms in terms of brand awareness. Ultimately the SHEEP control the market.
Justin Allen (2 months ago)
Not for much longer. Demand is off course more important but the community is about to vote on fixed cap + POS is coming soon. Casper contracts are being finalized.
Ian RJM (2 months ago)
Justin Allen doesn't eth have an unlimited total supply?
Eplemos4Life (2 months ago)
Github
Sebastian (2 months ago)
That bounce definitely threw me off as I had been expecting an inverted h&s. Got a few buy orders for alts set up. It'll be interesting to see how it plays out over the next day or two.
Da Mc (2 months ago)
Buy it up before altcoin projects start making major announcements regarding regulatory approval and technological breakthrough. Any profits taken near the top should be reinvested soon. The hesitation to sell at the top for fear of missing out on higher highs is the same greed paralysis that drives hesitation to buy at the bottom for fear of missing out on lower lows. Too late to sell at all time highs, only opportunity to miss or sieze now is to buy the dip. Load up, then bring on the short squeeze! As always, thanks for sharing your time and thoughts Node. Like button smashed!
You look Silly (2 months ago)
this pattern will continue until it's all gone
TJ (2 months ago)
I feel bad for idiots that shorted... NOT!!!! 😂
I Finn (2 months ago)
I'm not getting excited until it goes above 12K. We tested 11.7K twice. I feel this could possibly be some false hope then big money will slam the market one more time to shake out the rest of the weak hands buying at the low and then 2018 will see epic numbers.
IRGIORGIO (2 months ago)
I Finn exactly. This could very well go down to 5k.
Kevin Svenson (2 months ago)
really doesn't seem like a true bottom. I don't see enough volume either. It should sell off again soon.
Ian RJM (2 months ago)
Only J-lo has a true bottom.
Eplemos4Life (2 months ago)
Adam and eve pattern in the makin
Stuart H (2 months ago)
Volume is deceptive and can accumulate in hidden pools on certain exchanges. If there is no volume then in reality we will be going sideways soon. Volume is important though....and the top few coins have had decent volume in the last 24...hard to predict because everyone was saying we would be at 5K right now so they blew it entirely by failing to note that money volume can be produced in an instant by a whale in this little market.
Anonymous WarNews (2 months ago)
Watch dow jones, its like the boss of stocks, like bitcoin is of crypto, its a typical bounce from the stock traders that came in crypto (because of stock crash) in mind that is a safe haven but no we wiill still see bottom!!!
D C (2 months ago)
good update. thanks bruh
Cryptolight (2 months ago)
NODE, YOUR THE BEST!!! IM STUCK IN A SHORT FROM 6,600. OH NO.....
Norm Bolduc (2 months ago)
Cryptolight *you're*
Jay Dee (2 months ago)
Healthy bounce. Bitcoin is headed back up to 10K. First phase of its ascent back to 20K and beyond by end of this year. 😎
cosasverdes (2 months ago)
Yes.. BUT... it needs to get close to 3-4K before doing that.
Unique Poudel (2 months ago)
First comment Yeah!!

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