After the big downturn from 8400, the crowd was calling for 5K or lower. This is also a good sign for bulls, because the crowd is usually wrong.
A few days ago, the crowd claimed alt coins were going to zero. Since then, alt coins have also seen major upside, as BTC dominance has decreased from 54.5% to 51.5%.
I am looking for BTC to hold above 6500, which could lead to a rally to the low 7000’s. This will squeeze shorts, liquidating some, which will increase upside for BTC .
Overall, if 6000 holds that is a sign the market has bottomed and is beginning a new rally, which could be catalyzed by approval.
There is definitely a chance BTC dumps at any moment which could lead to a lower low and another massive sell off. However, at this time there are signs than .