Bitcoin Bears Backhanded And Why A Second May Be Coming

Today BTCUSD exploded higher up over 10% at multiple points throughout the day. As I'm writing this it's off it's highs by a little, currently trading at around 8.31%. With a little room before the next major area of resistance, I think we may see another 4-6% move in BTCUSD before things start to get dicey. Around 7800 we have the confluence of Fibonacci Extension, a long-term downtrend couple with moving average resistance...it's where the rubber meets the road. It's the first time in a while that it look like the bear market may finally be coming to an end, but I think it's a little too early to tell. Using USDTBTC as a great inverse indicator, you can see it too looks like it has 4-6% lower before it finds support. Another crypto market internal I've been using lately is BNBBTC which has been slowly selling off for nearly the entirety of the recent rally in BTCUSD , Ethereum and the rest of the crypto market. There are a lot of good signs popping up for the next bull run, but I'm not ready to dive back in head first just yet