BTC has continued to push upwards over the last 36 hours, creating higher lows while savagely slaying bear-driven downward pressure. BTC tapped $6,570 thirty-six hours ago before rebounding to $6,700 within 3 minutes. From there, highs above $7,220 were reached followed by multiple down-swings which the bulls easily defended. Currently, we appear to be in a squeeze that could breakout upwards in the next 2-4 hours, IMHO.
Yesterday, almost exactly 24 hours, an 8 to 9% increase started, breaking out of short term resistance lines. I believe we hit our bottom yesterday and the next 24-48 hours are going to be spectacular. Good luck everyone!
thanks for sharing ... in my humble opinion, i think the lack of volume shows lack of interest in bitcoin at these prices, meaning it still expensive relative to the market sentiment, i see more potential downside than upside. Nothing definitive has happened in the last 24 hours to change the very sentiment that has driven BTC from 20k to 6k last month, and back to 6k in the last few days. The rebound was also short lived, with strong resistance at $7200. The death cross just happened today as well, which shows further downside and long term bearish momentum. The last time this cross happened was in 2014 ... and that was the start of 1 year bear market. Hopefully not the case this time, but still, something hard to ignore and important to consider. My 2 cents, and not financial advice. Good luck trading!
The only way is further down until BTC completes the bubble cycle. I think you’re in denial. The downfall will be stronger here onwards. Going against a strong trend like this can be a very dangerous move.