Scott Melker, a well-known crypto investor, trader, and content creator, recently appeared on the new Crypto Trading Secrets podcast hosted by Benjamin Pirus. In the interview, which took place on November 29, Melker shared his insights on various topics, including how he identifies a potential bull market transition on Bitcoin’s price chart. According to Melker, spotting asset bottoms is typically a lengthy process that can take several months or even longer.
Crypto Trading Secrets is one of the new shows launched by Cointelegraph as part of their podcast programming. Each episode of the show features interviews with personalities in the crypto trading and investing space, focusing on different aspects of the industry.
During the interview, Melker discussed potential indicators that Bitcoin might be forming its bottom based on sentiment. He also considered mainstream factors that could potentially keep BTC prices low. Later in the conversation, he turned his attention to the charts, highlighting the specific signs he looks for to determine if Bitcoin and the wider crypto market are turning around.
Melker explained that a break in the series of lower highs and lower lows is a crucial technical signal of a transition from a bear market to a bull market. For instance, he mentioned that the last lower high he observed was around the $25,200 mark. Therefore, breaking this level would be a significant milestone in considering the possibility of a bull market.
Furthermore, Melker discussed other price levels and chart movements that traders and investors might monitor for signs of a shift towards a bull market. He emphasized that sentiment plays a crucial role in this transition, noting that it becomes evident when prices start rising, people become less reactive to negative news, and interest in the market starts to grow.
The interview covered various other topics, including Melker’s past experiences in archaeology. To listen to the full episode, visit the Cointelegraph Podcast page or find it on popular podcast platforms such as 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.