From my perspective there is a clear bull flag forming on the daily chart. I have the feeling the majority is bearish.
But do you remember the corrections of the previous bull market, with a lot of these corrections people where bearish but it appeared to be preparations for upwards movement.
First of all, I hadn't thought Bitcoin would move up so quickly from the 3k area.
This move reminds me how the market of Bitcoin works and he most important rule is "don't bet against the market" in my opinion.
I see more potential to the upside in this move, this is Bitcoin, and every time you think things can't go crazier, it happens.
I think we are currently in a consolidation fase and will reach towards the resistance and break through it.
Trade the break out, it's normally the safest way.
But do you remember the corrections of the previous bull market, with a lot of these corrections people where bearish but it appeared to be preparations for upwards movement.
First of all, I hadn't thought Bitcoin would move up so quickly from the 3k area.
This move reminds me how the market of Bitcoin works and he most important rule is "don't bet against the market" in my opinion.
I see more potential to the upside in this move, this is Bitcoin, and every time you think things can't go crazier, it happens.
I think we are currently in a consolidation fase and will reach towards the resistance and break through it.
Trade the break out, it's normally the safest way.