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February is still a good month for the bulls for Bitcoin despite the drop

Bitcoin price dropped by 8%, but that’s not reason to panic. Given the month-over-month prices, we’re still in a good place

Written by Bobby Atkins Published on

Yes, Bitcoin dropped 8%. No, it’s not fun. But it’s not devastating.

It’s always a good idea to zoom out and look at your weekly and monthly time frames and look at where the bulls need to defend the chart to keep the positive momentum in place.

Think about it like this:

We have another week in February. The bears would obviously love to close at $3400 or below, but if we can maintain above the $3415, it would be the first time in six months that we have a month-over-month positive change. This is bullish news, and we very well could see a break in the market for the positive.

You can take gains from the upside. If you’re trading the correct way, you can ignore the FOMO and the FUD and trade without any anxiety. If we close above the $3650, that’s still very positive for the month.

You can find more details in the video below:


Feb 24th – Bitcoin Market Update – 8% drop…now what? by WolfpackCrypto on TradingView.com

Start trading cryptocurrency with Coindirect.

Written by

14 years experience across UBS Asset Management, Principal Global Investors and Factset Research Systems. In 2017 I left the centralized system to become a full time crypto-currency trader, researcher and internet publisher.@wolfpackcrypto

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