Possibly. Although I'm still far more bearish. The purpose of this idea, is to share a more general expectation of what I'd expect to see occur. Bitcoin has rebounded but it was a bit overdue after the last series of daily falling knives. Bitcoin has been facing mild suppression from the diagonal resistance line since roughly Nov 14 which is intersecting with the horizontal resistance line at roughly 4.39k. If bitcoin does manage to break through both converging resistance lines, I believe bitcoin will have enough bullish moment to test at lest ~5.5k horizontal resistance. Regardless of which two events play out, I will be sure to keep an eye out on how bitcoin responds to its 2nd approach to the diagonal support line that has been formed since june of 2016. If it manages to stay above that support, my sentiment will have officially switched from bearish towards bullish.
As usual, please remember this is just me sharing my learining experience to better myself. This is in no way meant to be advice.
As usual, please remember this is just me sharing my learining experience to better myself. This is in no way meant to be advice.