After a short-lived drop under 34, Bitcoin has reversed and now is a correction mode, and, considering 3 consecutive red months, this is pretty normal.
Although dips are bought, and we can clearly see this, I'm not convinced that this is the start of a new bull leg.
At this moment BtcUsd is trading around 38k and a run above 40k would mean only 5%, which is nothing if we look at its usual volatility. Also, such a run would be a perfect bull trap, giving the impression that what was worst is behind us.
Technical resistances are at 41 and 45k and, ONLY above 45k I would start question my bearish outlook
Although dips are bought, and we can clearly see this, I'm not convinced that this is the start of a new bull leg.
At this moment BtcUsd is trading around 38k and a run above 40k would mean only 5%, which is nothing if we look at its usual volatility. Also, such a run would be a perfect bull trap, giving the impression that what was worst is behind us.
Technical resistances are at 41 and 45k and, ONLY above 45k I would start question my bearish outlook
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