Why I Think We've Reached a Bitcoin Bottom

Bitcoin has had a crazy past week relative to the slow and steady downtrend we've been in. Volume finally started to pick up and notably price pumped $1k in 30 mins before we saw the market start to stall again.

Last week I started to become tempted to buy Bitcoin at around $6800. Bitcoin had been trading around that level for 2 weeks, so mentally I suspect I started to feel like we were at a bottom and I didn't want to miss out on the next pump. The fact that I felt FOMO while we were trading sideways (especially given my general pessimism) LIKELY means that many other market participants feel the same way. The only reason I didn't buy is because of trading rules I've set where I can't increase my position size in Bitcoin until it goes down to $5k.

Furthermore, Bitcoin dominance is starting to fall which means money is shifting into altcoins again. This is a risk-off trade which shows confidence in the market. My confidence in my 50% BTC dominance prediction is finally starting to wane, which given the level of conviction I had for months despite all the criticism I received for it, is a sign that perhaps the market is ready for more stupid behavior (AKA another nice bull run).

In terms of altcoin trades I'm looking at, I discuss the following:

1. Litecoin at 0.015 BTC
2. Monero below 0.025 BTC
3. Nano at around 70 - 75k Satoshi (yes, the crypto I called a pump & dump - it's finally come full circle)

What are your thoughts on the market? As usual, feel free to share them with me and the community in the comment section below. Thanks for watching / reading!