2 Bullish Scenarios for Bitcoin
The last Leg down was weak compared to the previous ones. Downward momentum is clearly fading also the rsi is printing bullish divergence on daily timeframe . This doesnt mean the bear market is over and bitcoin is moving to ATH over the next couple weaks. No iam just guessing we could see one of those juicy bounces into the 8-10k range.
What makes me hesitant to buy alts now, is that the big candle from 5.8k was pure bots buying. Something in their algo triggered. Could be a bulltrap -.-
What makes me hesitant to buy alts now, is that the big candle from 5.8k was pure bots buying. Something in their algo triggered. Could be a bulltrap -.-
Note
the 5k area is primed for a bull run. The .768 fib level and the old trendline coming perfectly together.Note
The upside down view of btc is interesting aswell.
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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.