As noted a while back, I think bitcoin
is entering a weeekly mean reversion. Bitcoin
has gotten super vastly oversold, and this new sustained bull
move so far has slowly been creeping up. After the last move, we consolidated, formed a penant pattern and broke out, showing consolidation. We are still only 40 Yuan or so from previous relative high of 1797~
Technicals: 50 ma crosed 200ma on 6h time frame with momentum, very strong signal.
Target is daily 200 ma, around 2120-2160~. To be honest I think there is a good chance we go parabolic to 350+, but would start taking profits at artound 200 daily ma area.
Fundamentals : Not much, but VC
money keeps pouring into bitcoin
. 21.co announced 126m in funding, nuts.