BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
So BTC broke through the downtrend resistance and it seems that we'll be pumping for a while.
Weekly and 3d is oversold, so this pump had to happen at some point.

I am just surprised that there hasn't been a shakeout dump before that, only a slow grind down. Quite boring for BTC actually.
And that despite that quite high longs. Well, that was an interesting surprise.

I think we'll be headed back to 8k territory, and then at some point the bearmarket will resume again. This is a bearmarket relief rally and nothing more imho. We're not done yet with this bearmarekt, target still remains 3k imho.
However, I am switching to short term long.
Comment: Well this recovery is weaker than expected. So I think the blac line in the above chart will not be so steep, and the path to 8k will take longer, and only reach the high 7ks, with luck low 8ks instead of mid 8ks.


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