Video Description
Is the Bitcoin low definitely in? My answer has not changed on this drawdown. 58K is the floor I have held since the August breakout from 67K to 78K, and I do not see Bitcoin going below it. The 200-week moving average, at about 68K right now, is my absolute bottom target, the level I have used both on the way up and on the way down.
The bigger lesson is how to set that target. Whenever price goes down, people's targets go down, and whenever price goes up, their targets go up. Set your bottom target while price is still going up and stick to it. The same mistake in reverse is how people who planned to sell Bitcoin at 100K moved it to 200K and ended up holding the bag.
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This video from VirtualBacon provides insights into the latest cryptocurrency developments. Stay informed about BITCOIN market movements, technical analysis, and breaking news from trusted sources in the crypto community.
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