With little to no external influence, the crypto market saw nice gains recently. Though for the past couple of days the fear among traders is increasing with half of the community certain on bull trap being bearish and other half believing it to be a bat pattern and still bullish on BTC.
The above chart is the 1W timeframe BTCUSDT chart showing that it is rejected from the resistance line coming from its ATH. The support line was very steep and was bound to exhaust at some point but that doesn't mean it's the end of the bull run. The MACD indicator has formed a golden cross which is a very reliable sign of a bullish trend. The hash rate of BTC is improving and it has made a nice gain after breaking its strong resistance of 42k.
Possible Entries:
Right now exhaustion is important for a healthy bull run. its possible entries for long positions are 42.9k, 42k, and in the worst-case scenario 39.5k.
we all are gonna make it
The above chart is the 1W timeframe BTCUSDT chart showing that it is rejected from the resistance line coming from its ATH. The support line was very steep and was bound to exhaust at some point but that doesn't mean it's the end of the bull run. The MACD indicator has formed a golden cross which is a very reliable sign of a bullish trend. The hash rate of BTC is improving and it has made a nice gain after breaking its strong resistance of 42k.
Possible Entries:
Right now exhaustion is important for a healthy bull run. its possible entries for long positions are 42.9k, 42k, and in the worst-case scenario 39.5k.
we all are gonna make it