If greed and the fear of missing the bottom overwhelms traders this could be the path up. I am BTC Bullish long term. Bearish short term. Really any entry below 6k is going to seem like a genius move a year from now.
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A daily close above the resistance trend line entering the pitchfork in addition to a bounce off the trend line turned support will indicate to me we are entering the channel upward. A daily close below 5400 will invalidate this analysis.