I don't what people keep saying but we focus on the charts, we read the charts and get all the information from the charts.
One can guess and say things are this or that based on assumptions but the charts make no assumptions... Here is what XBT is saying on the daily timeframe.
Straight up!
We have a very strong RSI, ultra-strong.
After the initial break that ended 14-Jan., we see no signs of a retrace instead a very strong bullish consolidation.
Slowly bitcoin continues pushing higher, more likely waiting for all the bears to short so that they can be squeezed again.
There is resistance though, for certain, at $21,488. If this level can be conquered bitcoin can go straight ahead.
If XBT fails to break above this level, we still remain 600% bullish all the way through late March.
We will see how it goes. In the case that it drops suddenly, as the market tends/likes to surprise, we are super safe for a higher low.
See the two arrows:
1- blue straight up. 2- black small retrace then back up.