For those who think we already did hit the bottom here's this simple chart... we still have at least good 12-16 months to go.
If we were in a downtrend to retest short term low ?
Bearish div on 4h and 15 min charts. ATR low, high RSI levels = short.
I can see from here one LONG term scenario: calm climbing towards a new ATH (provided halving is in place in less than 50 days), than explosion to the upside few days after halving.
Well - what if you nearly double your BTC within few weeks ?
At present there's two important lines on Bitcoin vs Us Dollar chart - both long term. There is no point a looking at 1H, 4H if you don't consider trend direction. IF this support line holds - we are building really explosive bullish pennant. Few months ago I said a lot of people will sell to early. I am actually surprised seeing Alessio Rastani (respect) saying...
What's there above fundamentals ?
Time for sudden return of bulls. (weekend vibe incoming).
Let's see if it continues... Entry in green.
We're at long term support. I wouldn't be brave enough to go short here yet. If support is broken and confirmed we're going to have lot's of short opportunities for long enough period of time. For now still bullish.
We are possibly looking at reversed H&S here. Let's see how this one plays out.