It looks like we have faithfully hit 9k and are in the process of a healthy dip. Indicated are 2 bear trap support zones in yellow, and a higher-low trend line (blue) starting at the 6K low. The 50ema is above the 100ema and we're above the blue trend line. This means that I am short term bullish and long term bearish. I will be both short and longterm bearish if BTC does not bounce off the yellow support levels and into grey area.
Remember everyone: We are still in a bear market until we see higher lows and an uptrend from the 6k mark. I believe the bears have a lot of work to do if they want to start a full fledge bear market again.
Stay alert on support and resistance levels. These next few weeks will be detrimental in determining the way the market goes in the summer.
The bears last celebration may be upon us very soon. Keep watch for price action and DYOR.
Remember everyone: We are still in a bear market until we see higher lows and an uptrend from the 6k mark. I believe the bears have a lot of work to do if they want to start a full fledge bear market again.
Stay alert on support and resistance levels. These next few weeks will be detrimental in determining the way the market goes in the summer.
The bears last celebration may be upon us very soon. Keep watch for price action and DYOR.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.