Bitcoin has been doing great lately and this is a real move.
Some people have doubts and we understand and sympathize with these people.
The reason they have doubts is because of their bearish bias. If they did not have a bearish bias, they would consider this move real because it has been happening for a while now.
The bias is there because of the conditioning that happens after more than a year of dropping prices. The bear market.
Now, the answer.
How to know if this move is real or a fake one?
The first thing is the strength with which Bitcoin is growing. The last three days have been pretty strong. ✔️ Bitcoin recovered 17 days of correction in 3 days. ✔️
The second one is the higher low. After a strong move it is normal to see a correction. Bitcoin produced a very strong bullish breakout Jan/Feb and then went on to correct. The correction ended in a higher low and as it is normal, the bullish move now resumes. ✔️
Then the volume. The volume is strong, above-average, the last three days. ✔️
Finally the RSI. A very strong RSI supports a move as it is happening now. ✔️
All these points give support to this being a real move and not some fake anything.
I hope this helps some people... Let's continue with our Next Target Mapped series.
Bitcoin's next target can be around $35,500 potentially. Can be much higher, can be lower as well but this is a good reference point.
This potential remains active as long as Bitcoin trades above $15,500.
I am hoping you are having a wonderful Monday. I am sending you positive vibes, good energies, my best wishes, peace, tranquility, serenity and love.
See you on the next one.
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