Reaching the lowest Bitcoin price is a process, says The Wolf of All Streets, Scott Melker

[ad_1]

Crypto investor, trader and content creator Scott Melker, also known as The Wolf Of All Streets, has joined the new Crypto Trading Secrets podcast for an interview with host Benjamin Pirus. During the conversation recorded on November 29, Melker offered his thoughts on many topics, including what he looks for on the Bitcoin (BTC) price chart to tell him it’s time to start considering a transition. to a bull market. It’s usually a months-long process, Melker said of asset funds. It may take even longer than that.

Crypto Trading Secrets with Benjamin Pirus is one of many shows launched as part of Cointelegraphs new podcast lineup. Featuring interviews with leading figures in crypto trading and investing, each episode of Crypto Trading Secrets will focus on various topics related to investing and trading the crypto space.

At the start of the interview, Melker noted potential signs that Bitcoin could form its bottom in terms of sentiment and also weighed in on the dominant factors that could keep BTC low. Later, Melker pointed to the charts, mentioning what he is looking for that might tell him Bitcoin and crypto have turned around.

Obviously we were in a streak here when it comes to price highs and lower lows, and once that streak is broken you have a technical break of the downtrend and a move into a bull market, a Melker said. Right now the latest lower high I believe is around $25,200 something like that, Melker said casually. So it would, indeed, take a break from that level to even start talking about a bull market.

He also mentioned other possible price and chart movements that people could look for that could signal a change in direction towards a bull market. But I think as far as sentiment goes, it will be pretty clear when prices start to rise, [people] stop reacting to bad news, people start to care about it again, he added, continuing:

Maybe we are starting to see more good news, but if we see a real bull run, what will inevitably happen is that most people will be in disbelief. They won’t think it’s really happening. It’s going to be $25,000, $32,000, $40,000, and where those people start buying is probably going to be the local top.

The interview covers much more, including archaeological activities from Melker’s past. Check out the episode on the Cointelegraph Podcast page, as well as on Apple Podcasts, Spotify, Google Podcasts and TuneIn.

The views, thoughts and opinions expressed in this podcast are the sole contributors and do not necessarily reflect or represent the views and opinions of Cointelegraph.

[ad_2]