Scott Melker, a prominent crypto investor, trader, and content creator known as The Wolf Of All Streets, recently appeared on the new podcast Crypto Trading Secrets with host Benjamin Pirus. In the interview, which took place on November 29, Melker shared his insights on various topics, including how he identifies the beginning of a bull market transition on Bitcoin’s price chart.
Melker emphasized that asset bottoms are usually a long process, lasting several months or even longer. He also discussed potential signs that Bitcoin may be forming its bottom in terms of sentiment and considered mainstream factors that could potentially keep BTC prices down.
When it comes to analyzing the charts, Melker explained that he looks for specific patterns that indicate a turnaround in Bitcoin and the broader crypto market. He pointed out that the current bear trend is characterized by a series of lower highs and lower lows, and breaking this pattern would signal a technical break of the bear trend and a shift into a bull market.
Melker mentioned that the last lower high on the Bitcoin price chart is around $25,200. Therefore, a break above this level would be a significant milestone towards a potential bull market. He also discussed other price levels and chart movements that traders and investors might watch for as potential signals of a shift in market direction.
In addition to discussing market analysis, the interview delved into Melker’s past and his archaeological pursuits. Listeners can find the full episode on the Cointelegraph Podcast page, as well as on popular podcast platforms like Apple Podcasts, Spotify, Google Podcasts, and TuneIn.
It’s important to note that the views, thoughts, and opinions expressed in the interview are solely those of the participants and do not necessarily reflect the views and opinions of Cointelegraph.