Expert: Bitcoin bottom is near — the chart says about the imminent change of trend

At the moment, Bitcoin is trading just below the important support level in the area of $ 3,500. Cryptocurrency is under constant threat of a new drain, the downward movement of the price of BTC is accompanied by a strong decline of the rest of the market.

The famous American businessman Alex Melen believes that this is the last attempt of the bears to put pressure on investors in the crypt. As evidence of a trend change Melen posted on his Twitter quite an interesting forecast. Apparently, Bitcoin is on the verge of great change that must happen very soon.

We are at the bottom

As evidence of Melun cites the movement of two moving averages 200 and 50 MA in the scale of 4-day schedule. The businessman recalled that the last time these lines were crossed just before the end of the bear market in 2015.

History does not necessarily repeats itself, but even traditional assets like precious metals or stocks often inherit similar patterns on the price chart. In other words, in the near future awaits us, if not a great leap then at least flat for some time. If the bottom really has come, now is the time to stock up on cheap bitcoins.

Trader under the name Armin van Bitcoin supports reasoning Melena. He recently announced in his Twitter about a new wave of growth of the cryptocurrency. The analyst does not agree with the bearish predictions by Tony Weiss. In his opinion, if the majority of experts expects a sharp draining, the market will behave in a very different manner.

And yet the trends don’t lie — recently, the head of CBOE Jan van Eyck noticed a mass Exodus of investors from the Bitcoin to gold. He also called precious metal one of the most profitable investment 2019.

To monitor the rate of Bitcoin and other coins we recommend in the ranking of cryptocurrencies. Market capitalization today is 112,86 billion dollars.

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