I don't think the overall trend has changed. What we saw
yesterday was most likely a short squeeze triggered by
buyers piling in at the break of the inverted H&S. 6800-7250 pump liquidated 232 million U.S. dollars
in short positions on BitMEX. Strong rally on decent volume but I don't think we see
above 9000, and more likely test the lower range again. I see us getting these rallies with each successive rally being lower until we have a major catalyst such as an ETF, which is unlikely to be approved in the near future.
yesterday was most likely a short squeeze triggered by
buyers piling in at the break of the inverted H&S. 6800-7250 pump liquidated 232 million U.S. dollars
in short positions on BitMEX. Strong rally on decent volume but I don't think we see
above 9000, and more likely test the lower range again. I see us getting these rallies with each successive rally being lower until we have a major catalyst such as an ETF, which is unlikely to be approved in the near future.