BTC has been holding today at the mid-6k critical support levels for the longest time since the selloff. In fact, this price hold is rather uncharacteristic of the bearish market patterns of the last few months. I tweaked the MA(100) to expose a more detailed periodic motion in the market. It's hard to deny the gut feeling that BTC prices should rebound. Emotions aside, the MA trend compares to similar trends right before a large price rebound, when the bears were dumping coins from 9k levels.
The correction could develop any moment or in a couple days. Granted, the bears have ruthlessly been targeting 6000, and there is nothing to confirm that the market is ready to fully rebound before then. I expect a dump shortly thereafter, but not before testing 7300.
The correction could develop any moment or in a couple days. Granted, the bears have ruthlessly been targeting 6000, and there is nothing to confirm that the market is ready to fully rebound before then. I expect a dump shortly thereafter, but not before testing 7300.