Did Bitcoin Bottom?

This week’s analysis will cover whether the Bitcoin bottom is in or whether there is more room to run lower.

Before we start the analysis, here’s a little free signal extracted from the premium version of Alpha 12.

Last week we gave the signal to load up on AKT. We literally caught the absolute bottom before the massive 50% candle today.

We have been invested in AKT for a while now, but last week we gave the DEPLOY signal, which is the strongest signal we can give for a token.

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Market Overview:

Bitcoin is up 9% from the local bottom of $60,000 last week, and sentiment is shifting positive.

People are saying the bottom is already in and that we only go higher from here.

However, there is no evidence to suggest that.

The technical trend is still in a strong negative state. And all the major economic drivers of price are still in a negative state.

Until we see a shift in these factors, our bias will remain neutral with a slight downward effect.

Some on-chain metrics, however, may indicate we can go higher.

So don’t be surprised if we reclaim the $70,000 level.

The analysis doesn’t end here, though.

The path of least resistance can be determined by analyzing the state of…

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