The forth touch of the downtrend seems to show a bitcoin breakout of the downtrend. Its been about a 4 month downtrend from the top but it seems like we are almost out of the woods.
There has been a lot of bear talk the last few months, but I tried to keep focus on the big picture. I remember in February and March as prices were coming down, all I kept telling myself is bitcoin is more bullish from a Fundamental standpoint than it was a year ago with lightning network being live, the Merger & Acquisitions in the market(Polo,coinbase,etc), the hedge funds looking to enter the market . Many of the cryptocurrencies that raised millions of dollars based on ideas are starting to put out real working products. What was happening was emotions, market cycle and some TA. Thankfully being through a decent correction before I was smart enough to take profits in January but not nearly as much as I should have. I also held many of my long term holds as my entries were too good for me to hand it to someone else trying to buy this bottom. By now most of the weak hands and new money that came in December/January have capitulated. If you held through and survived the downtrend, hats off because not many did. I have so many friends wrecked that blindly got in just because they saw everyone's gainz in 2017 they figured it will never go down. I made similar mistakes when I first started in crypto but you have to learn to read the market sentiment. When your uber driver/ grandma / coworker ask you about bitcoin, next time start thinking about taking some profit. When everyone thinks bitcoin is dead/scam and BTC shorts hit ATH like the last few weeks, you sell your kids for crypto, be the CONTRARIAN!
One last note i'll leave here, I don't think bitcoin will reach ATH anytime soon in the next few weeks/months, but rather consolidate or trend up slowly, giving us one hell of an alt season. This is not financial advice just my personal opinion on the market.
