A couple of weeks ago I made an analysis where I talked about an easy way to distinguish whether BTC was bullish or bearish.
With the current break out, I can finally say that BTC is bullish and things are looking better again.
We're quite overbought at the moment, so we can expect a minor correction in the coming hours. Still, I'm confident that we're going up from now.
Short term targets placed at recent tops and bottoms. Since open interest on the short side is quite high, we might make a big move in the coming days towards those targets.
Bulls, congratulations for holding on to your conviction.
Happy trading!
With the current break out, I can finally say that BTC is bullish and things are looking better again.
We're quite overbought at the moment, so we can expect a minor correction in the coming hours. Still, I'm confident that we're going up from now.
Short term targets placed at recent tops and bottoms. Since open interest on the short side is quite high, we might make a big move in the coming days towards those targets.
Bulls, congratulations for holding on to your conviction.
Happy trading!
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