Hello My friends!
BTC is correcting and a lot of people are still calling for a bear market.
I don't understand why they say that? There are 3 reasons why I believe we are in a bull market in monthly analysis.
1. Before, we were worried because of the double top, but now the double bottom has formed.
2. Price action gives us 3 candles with long lower tails and especially 2 consecutive pinbars. What we are waiting for is a breakout of the bearish resistance line.
3. An extremely important positive factor when observing the RSI indicator, we are having a closed divergence to prepare for a strong increase.
My personal opinion we are in a bull market and I only consider when the price hits the 64.7K and 74.5K areas.
Always be patient and trusting.
Note: my english is not good, so i usually use google translate. Please sympathize!
Best Regards!
BTC is correcting and a lot of people are still calling for a bear market.
I don't understand why they say that? There are 3 reasons why I believe we are in a bull market in monthly analysis.
1. Before, we were worried because of the double top, but now the double bottom has formed.
2. Price action gives us 3 candles with long lower tails and especially 2 consecutive pinbars. What we are waiting for is a breakout of the bearish resistance line.
3. An extremely important positive factor when observing the RSI indicator, we are having a closed divergence to prepare for a strong increase.
My personal opinion we are in a bull market and I only consider when the price hits the 64.7K and 74.5K areas.
Always be patient and trusting.
Note: my english is not good, so i usually use google translate. Please sympathize!
Best Regards!