For some time now, Bitcoin has been reacting to the Fed's monetary policies, which seems to me to be contrary to what Bitcoin should mean, but whatever...it reacts, so I deal with this...
Yesterday, after FED speech, Bitcoin has reversed from 46500 and has made a run above 49k.
Although this is not bullish yet, is a strong sign that a genuine reversal could be in cards soon.
Technically, Bitcoin needs to pass above 49500 to signal that an important bottom is in place, and for it to become bullish , it needs to get back above 53k.
Although this is not a very strong buy signal for BTC , the fact that selling pressure is lifted from crypto market could mean that some Alts could rise very nicely, and there I will look for buying opportunities.
Yesterday, after FED speech, Bitcoin has reversed from 46500 and has made a run above 49k.
Although this is not bullish yet, is a strong sign that a genuine reversal could be in cards soon.
Technically, Bitcoin needs to pass above 49500 to signal that an important bottom is in place, and for it to become bullish , it needs to get back above 53k.
Although this is not a very strong buy signal for BTC , the fact that selling pressure is lifted from crypto market could mean that some Alts could rise very nicely, and there I will look for buying opportunities.
Trade closed: target reached