Don't be fooled by the rally, already more overbought than 14dec
In my humble and amateur opinion i think this is just a 'bear market rally' or 'oversold rally' inside of a sideways pattern on the larger timeframes. Never chase pumps and when in doubt zoom out.
Nothing has changed in terms of the bearish macro narrative for Q1 and Q2 of 2023 so i don't see why it would win back the strong 18k resistance as support in the short term. Even if it does i don't see it going much higher than that, because the stock market will probably tank somewhere Q1 or Q2 from the effects of the highest interest rate hike year in history and crypto will be taken down along it. So we will most likely make a new bottom or AT LEAST retest this one.
Nothing has changed in terms of the bearish macro narrative for Q1 and Q2 of 2023 so i don't see why it would win back the strong 18k resistance as support in the short term. Even if it does i don't see it going much higher than that, because the stock market will probably tank somewhere Q1 or Q2 from the effects of the highest interest rate hike year in history and crypto will be taken down along it. So we will most likely make a new bottom or AT LEAST retest this one.