BITCOIN 70k or 28k more likely next?
Updated
For some time now, Bitcoin has been reacting to the Fed's monetary policies, which seems to me to be contrary to what Bitcoin should mean, but whatever...it reacts, so I deal with this...
Yesterday, after FED speech, Bitcoin has reversed from 46500 and has made a run above 49k.
Although this is not bullish yet, is a strong sign that a genuine reversal could be in cards soon.
Technically, Bitcoin needs to pass above 49500 to signal that an important bottom is in place, and for it to become bullish , it needs to get back above 53k.
Although this is not a very strong buy signal for BTC , the fact that selling pressure is lifted from crypto market could mean that some Alts could rise very nicely, and there I will look for buying opportunities.
Yesterday, after FED speech, Bitcoin has reversed from 46500 and has made a run above 49k.
Although this is not bullish yet, is a strong sign that a genuine reversal could be in cards soon.
Technically, Bitcoin needs to pass above 49500 to signal that an important bottom is in place, and for it to become bullish , it needs to get back above 53k.
Although this is not a very strong buy signal for BTC , the fact that selling pressure is lifted from crypto market could mean that some Alts could rise very nicely, and there I will look for buying opportunities.
Trade closed: target reached
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