Bitcoin uptrend or yet another Bull Trap on Bitcoin. IMO
Bitcoin has broken above a previous resistance line. Although we are not in the clear, my outlook is still bearish. I am still looking for the $9K bottom. Hopefully I am wrong and we have a picture perfect scenario happen.
The sad fact is life doesn't always have a picture perfect ending. I wish it did for my sake. The charts show a nice sign of relief incoming. The market attempting to set higher highs and lower lows.
That doesn't seem like a great sign but it is a sign that the bottom is getting closer to being found. We haven't found a clear bottom unless we conclude this cycle with $17,500 as that bottom. In which case I could be considered wrong. I wouldn't complain.
The sad fact is life doesn't always have a picture perfect ending. I wish it did for my sake. The charts show a nice sign of relief incoming. The market attempting to set higher highs and lower lows.
That doesn't seem like a great sign but it is a sign that the bottom is getting closer to being found. We haven't found a clear bottom unless we conclude this cycle with $17,500 as that bottom. In which case I could be considered wrong. I wouldn't complain.