I Think We Nailed The Bitcoin Bottom....

12 May 2022 · 9 min
9:17

In this solo market‑analysis video, The Art of Crypto evaluates whether Bitcoin has reached a short‑term bottom and outlines what traders should expect for the coming week. He reviews recent price action, noting that Bitcoin has cleared several key resistance levels and now appears poised for a potential downward move toward a CME futures gap between $24,700 and $26,100. He explains how gaps historically get filled and predicts a possible 40‑plus % bounce if the price rebounds to $35k. The presenter ties the Bitcoin Volatility Index (BVI) to price targets, citing that a BVI near 12 points aligns with a $26k price level, and references past crashes (Dec 2021, May 2021) where similar BVI readings marked the end of steep declines. He then examines the 200‑week exponential moving average (EMA) on the weekly chart, noting it sits around $25,200 and has historically acted as strong support, producing 40‑125‑250 % rebounds each time it was tested. The total crypto market cap is also near its 200‑week EMA (~$1.08 trillion), reinforcing the support narrative. Throughout, he advises traders to consider entry around $24.7k, avoid shorting near support, and maintain a long‑term perspective despite recent painful drawdowns—sharing his own experience of multiple liquidations. The video concludes with community calls to action: follow his Twitter, join a private Discord, watch related videos on Bitcoin bear flags and Ethereum price targets, and engage in the comments.

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