Bearish Momentum Has Stalled... Impulse Up Next?
Updated
Bearish momentum seems to have stalled out. Even when looking back to 2018 and how we dumped at similar relative levels--we have yet to see much of a bullish shift in perspective, even with rising prices. This could be signaling some sort of bear trap. When you look at things from a perspective of strength--I am not convinced that bears have the strength at this time to push the price down lower.
Too many countries and institutions are taking a HIGH interest in crypto, let alone Bitcoin, the current king of crypto. Even when War was confirmed in Ukraine... why did we not see a harsher reaction from the market? Why are we still making higher lows? ...From 28k in 2021, to 31k when the year started, to now 39k after making a strong bullish impulse upwards, nearly reaching 48k once again?
Bears are starving. I don't see the strength. I'd love to be proven wrong.
Too many countries and institutions are taking a HIGH interest in crypto, let alone Bitcoin, the current king of crypto. Even when War was confirmed in Ukraine... why did we not see a harsher reaction from the market? Why are we still making higher lows? ...From 28k in 2021, to 31k when the year started, to now 39k after making a strong bullish impulse upwards, nearly reaching 48k once again?
Bears are starving. I don't see the strength. I'd love to be proven wrong.
Note
Hmm, interesting. So we've broken down, but there is still no volume. I am skeptical to believe in these dips if we don't see more volume, though. BUT the unfortunate thing is (from a trader's perspective), by the time we see more volume during a crash or dip, it may be too late to even trade it. So stay safe out there, guys.
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