Bitcoin remains bullish for two reasons:
From a technical point of view, although it has broken an uptrend line, it must be taken into account that the lines are not exact, the lines must be seen as zones and not as specific prices. A deviation down from a bullish trend line does not necessarily mean that the price has turned bearish.
From a technical point of view, we can see that bitcoin continues to remain above the moving average of 100, which indicates that, on average, it remains bullish.
Nor has there been any change at the fundamental level that could suggest a change in the situation. In fact, the threat of a possible wave of coronavirus can only increase the value of bitcoin, as banks will be forced to raise the interest rate on their clients.
The social visibility of bitcoin continues to increase, and as more people use bitcoin, the higher its value will be.
These slight short-term deviations are only price manipulations intended to strike fear into investors and drive them out of the market, or hunt for stop loss.
From a technical point of view, although it has broken an uptrend line, it must be taken into account that the lines are not exact, the lines must be seen as zones and not as specific prices. A deviation down from a bullish trend line does not necessarily mean that the price has turned bearish.
From a technical point of view, we can see that bitcoin continues to remain above the moving average of 100, which indicates that, on average, it remains bullish.
Nor has there been any change at the fundamental level that could suggest a change in the situation. In fact, the threat of a possible wave of coronavirus can only increase the value of bitcoin, as banks will be forced to raise the interest rate on their clients.
The social visibility of bitcoin continues to increase, and as more people use bitcoin, the higher its value will be.
These slight short-term deviations are only price manipulations intended to strike fear into investors and drive them out of the market, or hunt for stop loss.