Bitcoin - Correction Soon To Be Over

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About: Bitcoin USD (BTC-USD)
by: Florian Grummes
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Florian Grummes
Contrarian, gold & precious metals, cryptocurrencies, Newsletter Provider
Summary

Bitcoin has been stuck in a bear market since December 17th, 2017.

Its weekly chart is oversold and probably close to a trendchange.

Professional money has not yet fully positioned for a new rally.

There is sentiment signaling fear and anxiety.

Bitcoin is a contrarian buying opportunity.

Bitcoin (BTC-USD) has been in a correction since late June. Prices below US$8,000 have been anticipated and are now reality. So far, the fourth quarter has not (yet) brought any larger recovery. Instead