Willy Woo Answers Bitcoin Bottom Question! Targeted for the Worst Scenario!

Latest inflation data from the USA FEDWhile raising expectations that .

although Bitcoin (BTC) Although it managed to hold on to the support level of 20,000, the expectations that the risk appetite will be low before the FED meeting on September 21 made investors nervous.

So Is Bitcoin At The Bottom Right Now?

As we have reported in many of our analyzes bitcoinIt is impossible to know where the bottom of the .

Affected by many variables BTCWe maintain our opinion that gradual buying will be more profitable in the long run in price movements that will occur below $20,000 in . we think.

There was also a comment from popular analyst Willy Woo on whether Bitcoin is at the bottom.

Recalling that the maximum level of pain has not yet been reached compared to previous bear market bottoms, Woo “History doesn’t have to repeat itself, but the level of maximum pain in Bitcoin seems to be $9100.” said.

“Are we at the bottom?

In terms of maximum pain, we have not yet felt the same pain compared to the previous bottoms. You can see this in the blue line. We have reached the level of 52% in terms of positions that have been in loss so far. Previous lows were 61%, 64% and 57%.

Especially when we consider the conditions of the age, history does not have to repeat itself. Because there may be newer types of transactions that are not reflected in the chain.

However, if we are still going to have to reach the 60% maximum pain, this price currently points to $9100 and is going up over time.”

Woo also shared a chart, stating that he expects the trendline of the supply in profits for new capital inflow to be broken.

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