Sorry to say this bulls but right now through a momentum POV, Bitcoin looks bearish and is most likely going to be a dead cat bounce Intill we can find a new bottom to build up from. When looking at the data BTC is below all key MA's and support lines and it's unrealistic to think that BTC is going back to 64k in a couple of weeks In my opinion. 27K area could be a nice bounce because thats where the golden Fibonacci support line is located and could be another swing trade opportunity if your an advanced trader. Again the BEST buying opportunity is 20k flat, thats when you start loading up on Altcoins and BTC and hold, if another bull-run starts you can make incredible gains of 10x or higher if your holding great Altcoins.
Momentum Indicators (Daily timeframe)
Williams alligator: Bearish
DMI: Bearish
Directional Momentum Chart: Bearish because of the fact its creating lower high's. Also known has (Bearish divergence)
Momentum Indicators (Daily timeframe)
Williams alligator: Bearish
DMI: Bearish
Directional Momentum Chart: Bearish because of the fact its creating lower high's. Also known has (Bearish divergence)
