Honesty this can turn Bitcoin to a bullish momentum.
In any case, for me exist many negatives yet, makes me believe that may we are in process of one of the biggest traps in Btc History.
And I explain.
First of all we have one very big bearish pattern (Head and Shoulders) This pattern get activated 2 weeks before by breaking downside.
But we did not saw a confirmation.
At the moment, we are in process of this confirmation. Specifically, we are in process of retesting the neckline of Head and Shoulders. 41800 -42000 is the key level.
Closing above 42000 can be a positive signal. But closing below is a rejection and automatically confirmation that this pattern will plays out.
From the side of indicators now...
EMA Ribbon is yet bearish on Weekly. SuperTrend is flashing yet selling signal. ADX and DI is mentioning yet a bearish trend (But the strenght/power of bears is stable)
What i am waiting for to long the market.
1. Rejection of Head and Shoulders Pattern 2. Breaking above EMA Ribbon And at least the Trend to turn Bullish.