The price of bitcoin has skyrocketed in recent times, surprising the market. And of course this makes crypto investors more optimistic. We see the high volume columns in the 20k price area showing that the big boys are very much involved. However, after such a dizzying increase, the above transaction volume increased again. Accompanying that is the price showing signs of correction after a hot rally.
According to technical analysis, we have signs of Strength Index weakening in the 1-hour frame; before a strong increase can see a prior reflection of Strength Index next to the Price Barrier support line.
Do you think this strong bounce from this low is a dead cat bounce? Please comment your opinion!
According to technical analysis, we have signs of Strength Index weakening in the 1-hour frame; before a strong increase can see a prior reflection of Strength Index next to the Price Barrier support line.
Do you think this strong bounce from this low is a dead cat bounce? Please comment your opinion!
Comment:
This is 4h timeframe,
Trade closed manually: