It looks like BTC had an ABCEDE correction from 8th to 27th of January. Since then, the pitchfork suggests that the trend might have changed again and we could be in a new uptrend which could bring us to 50k this time. I also remain cautiously optimistic for Alts. In general, Alts tend to consolidate when BTC makes a further move up. Nevertheless, my impression is...
I look here at 4 indicators, which suggest that so far this correction is not really like a trend reversal into some deeper, more brutal "bearish" correction:
- Daily EMA 21: It looks like it is acting as a good support, although it overshot a bit, but then it closed above yesterday
- Pitchfork: Bitcoin touched the medium line yesterday and it bounced back from...