To clarify I am not currently Buying BTC. Though I am looking for opportunities to leave alts and return to Bitcoin.
From a technical point of view historically in a bull market Bitcoin stays within 3 standard deviations. While staying about the 20MA/21EMA. The trend remains bullish until those averages are broken by a downtrend. Buying at this price means acceptance that price has short-term probabilities to go to 80k or 43k. Currently, the FIB area we are in has acted as strong support/resistance for weeks now. In my opinion, it's likely Bitcoin does something like break out to 70 000k resistance shortly followed by a retest of 45k. These kinds of moves happen often breaking the phycological interest of the people who bought the top and the middle. Making many give up even though the price was only briefly at that high point.
From a technical point of view historically in a bull market Bitcoin stays within 3 standard deviations. While staying about the 20MA/21EMA. The trend remains bullish until those averages are broken by a downtrend. Buying at this price means acceptance that price has short-term probabilities to go to 80k or 43k. Currently, the FIB area we are in has acted as strong support/resistance for weeks now. In my opinion, it's likely Bitcoin does something like break out to 70 000k resistance shortly followed by a retest of 45k. These kinds of moves happen often breaking the phycological interest of the people who bought the top and the middle. Making many give up even though the price was only briefly at that high point.