We took a look at Bitcoin (BTC) on a monthly chart. So far, the month of November doesn't look as bad as you might think with the price action seen lately.
Bitcoin (BTC) dove towards a bullish breaker near 7000 and held. The sharp bounce to 7800 seems to be an indication that bulls have a degree of control. So, on a long term basis, there is still reason to believe that Bitcoin (BTC) can bottom near 7k and continue to move much higher.
Bottom Line: We are also happy that the Thanksgiving Day inflection point did not produce a more dramatic drop. We find ourselves hoping that you can start buying dips. If Bitcoin (BTC) proves itself on dips, then the correction may be over, and a bull trend can begin.
Bitcoin (BTC) dove towards a bullish breaker near 7000 and held. The sharp bounce to 7800 seems to be an indication that bulls have a degree of control. So, on a long term basis, there is still reason to believe that Bitcoin (BTC) can bottom near 7k and continue to move much higher.
Bottom Line: We are also happy that the Thanksgiving Day inflection point did not produce a more dramatic drop. We find ourselves hoping that you can start buying dips. If Bitcoin (BTC) proves itself on dips, then the correction may be over, and a bull trend can begin.