Has Bitcoin Bottomed Out?

HAS BITCOIN BOTTOMED OUT AND IS READY TO BLAST OFF? METAVERSE GAMING DEFYING REDS

BTC TOP 3

BOTTOMED OUT

Since we had a new all-time high of around $69k approx 9 days ago, we’ve been seeing Bitcoin dipping and retesting critical levels, only to drop some more and more each day. However, after an almost 20% drop from the all-time high, we now seem to be bouncing back up. Have we seen the bottom?

Some significant indicators are showing real bullish scenarios ahead.

Fear and Greed Index, November 19, 2021

Remember the saying, “Be fearful when others are greedy, and greedy when others are fearful”? Well, you can say, this is the best time to accumulate and re-assess entry positions into the market. Hodl!

Next, we have the RSI.

Bitcoin RSI (see yellow markings) right now is approaching the same levels we had when we bottomed out at $39k around the end of September and also way back last June/July when we had the $29k low. Those were really good buying opportunities and were both signals to bottoming out to resuming the bull run.

On the 4hr chart as well, MACD is showing bullish possibility but yet to be confirmed. We need to reclaim the 20ma, which is around $58.7k area, then target $60k and $62k next. Hopefully, this will play out this weekend or next week.

However, some analysts have warned that although they are still very bullish but doesn’t invalidate the possibility of revisiting the low $50k’s level. But until that happens, we wait and see.

P.S. Bitboy Crypto did say this could be the last red week we’ll see in the next several weeks!

POTENTIAL LOW CAP COINS

Conservatively, the safest bet we have if we want gains in the crypto space is to go to those coins that have already proven it’s utility and have already established a name and rank in the top 50s or, say, top 10.

But if you’re really looking for those life-changing profits and gains, you might want to see these low cap coins.

  1. Pluton PLU (5-6x before Christmas)
  2. Freeway Token FWT
  3. Kattana KTN (launching soon, 10-100x gains during the course of this altcoin season)
  4. Opulous OPUL
  5. HoDooi.com HOD
  6. e-Radix EXRD
  7. Exeedme XED (should be rallying back to $0.75, mid to longterm target: $5-$10)
  8. DAFI Protocol DAFI (back in the buy-zone)
  9. Polkadot DOT
  10. Finxflo FXF

FUTURE OF CRYPTO: METAVERSE, GAMING, AND NFTS

EllioTrades has been a firm believer that the gaming ecosystem is the future of crypto. All the more now that with the recent Bitcoin volatility dragging along most of the altcoins, the Metaverse ecosystem, along with Gaming and NFTs have been doing pretty well with gains instead of reds.

So, he has pointed out Metaverse/Gaming/NFT Tokens that are very likely to crush and stay in the space whether it be a bull or a bear market.

Here’s the crash-resistant projects or ecosystems he had specifically mentioned:
1. Axie Infinity AXS
2. Sandbox SAND
3. Decentraland MANA
4. Illuvium ILV
5. UFO Gaming UFO
6. Vulcan Forged PYR
7. Monkey Ball
8. Sidus Heroes

If you are interested in investing in the long-term, might as well check and study these projects and see which ones are best to add to your portfolio.

DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH.


ABOUT THE AUTHOR

Elisa A.

Elisa is our Head of Market Analysis at Rocket Crypto X

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