BTC is quickly arriving at an inflexion point as indicted by the blue highlight. There is not much space left for BTC price to move in this current formation that started in March. The APEX is here and price will have to make up its mind:
1. Break resistance, shoot up and set a new ATH. 2. Break support and crash to find a new base around 50k.
My bias? Bullish. This is because despite any concerns from some traders, the market remains extremely bullish and interest in BTC has been going up. This is reflected by the indicators as well. On 4h and daily we're turning quite bullish despite the dump we had yesterday.
Moreover, this daily candle appears to engulf the previous red candle... this is VERY bullish as well (i.e. bullish engulfing candle). So price action and indicators lean bullish. Yesterday may have been a simple shakeout of weak hands. Did you sell? Too bad. You were early, just like those guys that sold at 14K saying the top is in. I stopped reading crypto Reddit at that time, never missed it since.
Enjoy the ride and we should get some fireworks soon in price action. Get ready!
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