A lot of calls to 5k again, BTC dumped a few hundred $, people are getting very bearish.
When in doubt, zoom out. What does the larger degree trend say?
So far:
Does it mean we can't go down? Sure we can. 8k isn't out of the question. But my bets are that we find a floor soon, then sideways, then rise.
When in doubt, zoom out. What does the larger degree trend say?
So far:
- BTC still in an uptrend channel
- Moving averages pointing up (50/200, 4-hr)
- Dump volume and velocity is a fraction of what it was in the bear market
Does it mean we can't go down? Sure we can. 8k isn't out of the question. But my bets are that we find a floor soon, then sideways, then rise.
