We took a look at Bitcoin ( BTC ) on a monthly chart. So far, the month of November doesn't look as bad as you might think with the price action seen lately.
Bitcoin ( BTC ) dove towards a bullish breaker near 7000 and held. The sharp bounce to 7800 seems to be an indication that bulls have a degree of control. So, on a long term basis, there is still reason to believe that Bitcoin ( BTC ) can bottom near 7k and continue to move much higher.
Bottom Line: We are also happy that the Thanksgiving Day inflection point did not produce a more dramatic drop . We find ourselves hoping that you can start buying dips. If Bitcoin ( BTC ) proves itself on dips, then the correction may be over, and a bull trend can begin.
DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.