Bitcoin is Bullish for 3-4 days, it stays nicely above 200 EMA (we talk about lower time frames)
There is a nice pattern that keeps repeat, the price is moving slowly upward followed by a sudden crush, but the interesting thing is that the crash don't affect in any way and the price starts to climb right after.
RSI (21) gives a better picture.
So it will confirm a bull trend even in high time frames or is just a toy for big boys?
The bears are trying to force the market down with some bart move attempts but they're getting exhausted as indeed the overall direction is up.
Once the first bears give in and start turning their positions we're in for a hell of a ride up :-)
edward_Z
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@micmuc, I agree, BTC was in bearish mode for too long, the only thing is if all of these are not just some $ distributions and we will see another false bull trend
Once the first bears give in and start turning their positions we're in for a hell of a ride up :-)