The large scale down trend seems to be in force still. Strong possibility for more drops, weak recoveries, and ranging.
Of course, the price is the result of a battle. I see that we are still arguably respecting the lines for a reversal and (still weak / forming) uptrend after the "spring" at 28.8k.
Personally, I much prefer a bull market and would love to see that side win for now. But you have to take into a variety of ways of looking at things so you're not caught off guard. I think a lot depends on the stock markets. If they stay positive, that gives bulls confidence. If not, then the bearish analysis gets a lot more emphasis. It seems like a lot of people are holding back buying (especially alt coins) right now waiting for some definitive sign of strength from BTC.
NFA.
Of course, the price is the result of a battle. I see that we are still arguably respecting the lines for a reversal and (still weak / forming) uptrend after the "spring" at 28.8k.
Personally, I much prefer a bull market and would love to see that side win for now. But you have to take into a variety of ways of looking at things so you're not caught off guard. I think a lot depends on the stock markets. If they stay positive, that gives bulls confidence. If not, then the bearish analysis gets a lot more emphasis. It seems like a lot of people are holding back buying (especially alt coins) right now waiting for some definitive sign of strength from BTC.
NFA.