The market sentiment is back, Volume is picking back up, and the SEC is bullish on the blockchain technology for usability. Get you're money ready, the bulls are about to be back in town!
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I feel we're at a key point on this coming dip. We previously marked a 8k bounce, which I feel is still obtainable, but one our first leg up we almost tested the 12k resistance. I feel that we may actually now bounce closer to the 9k mark if we're going to continue. If we break below 8k, that will confirm we were just in a bull trap and possibly hit 6k again...THIS IS HIGHLY UNLIKELY THOUGH...I still think we are now back in a bull market from the 6k bounce.
Trade active:
Here I have laid out some of the support/resistance lines we are now showing. I'd give it another couple of days to see what pans out, but as of right now, it looks like we're back in the next buy zone for accumulation. As you can also see, I tweaked only line 1 to match new trend line that was formed. We still have our original lines above, with the same targets.
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Here is the same chart, zoomed out more, for better reference of the meme lines
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We're setting ourselves up in a nice channel right now. There are two bull signals here, we have a bull flag forming, as well as, an inverse H&S. NOW, we all know that BTC tends to not follow all bull patterns every time, So if we don't close above 11k today, we will not hold the inverse H&S pattern and continue dipping. Within the next 3 days, I can see us setting either double bottom at 9.3k, or keep dipping for a good bounce right around the $8900-8800 mark
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Here is the Inverse H&S pattern for referrence: