In the end, it appears that my entry zone was the zone that whales were watching as well to step in again, with 31k being the local low, which functioned as a catalyst for the current reversal.
Take a look at my post of a couple of days ago:
After hitting the entry zone, BTC climbed with massive bars and . I'd expected the dump to go a bit further than 31k, but in the end this is great news for bulls.
Yesterday I made a post on the potential upcoming areas of resistance for Bitcoin in the short term. The channel resistance did indeed fail. Now, BTC is seemingly bouncing off the orange .
Personally, I think the dump is over. We can cautiously think about going full bull-mode again. Sadly enough, there's a few hurdles to take before that.
The nearest hurdle to take will be the 40k resistance. Although being the closest resistance, I don't see a meaningful reversal happening from 40k. However, the 42k resistance could cause a reversal all the way back to the major between 31k-30k. Keep this in mind when we approach 42k.
Short term BTC is still very in my eyes. Sure we can bounce off the orange . I've marked the green entry zone as a potential area to buy in again and trade the strong uptrend, in case we get some consolidation after this massive push upward.
In the long-term, I'm still for BTC as per my analysis below, please take a look.