Hi Guys ! So finally the expected ''powerful move'' was upside... So now what ? Well I'm a little more bullish (40%) than I was before the last BTC pump. However, I'm still bearish (60%) for Bitcoin. To me we're still in the middle of a bear market unless BTC break 12k-13k zone. Keep in mind that this is not the first big pump that we had since the beginning of the bear market and we didn't have much volume... A real reversal that could send me in the bull camp would be something similar than what we saw at 6k when BTC pump hard to 12k with HUGE volume.
Ok so on the technical side, we can see on the chart that a pattern has formed on the RSI since the start of this bear market. If this pattern continue, Bitcoin should drop right about now. Also, BTC face good resistances with the big downtrend line and with the 100 simple moving average.
I think at those levels BTC have more chance to drop than pump.
Stay tuned for more updates,
FRED
Ok so on the technical side, we can see on the chart that a pattern has formed on the RSI since the start of this bear market. If this pattern continue, Bitcoin should drop right about now. Also, BTC face good resistances with the big downtrend line and with the 100 simple moving average.
I think at those levels BTC have more chance to drop than pump.
Stay tuned for more updates,
FRED
