Hello All,
Since my earlier analysis the bounce has kept on going which is very good news for bitcoin bulls!
Reflection on the earlier outlook
I outlined 3 red flags to look for in the last analysis. Well one of them happened (8821 support broke), but after that we got back the bull trend.
The last two days
As you can see above the first trend of higher lows was giving space for optimism, it was a healthy uptrend, which however sadly broke yesterday night and a lower low was formed.
Since then we are back to higher highs. Also, which is even more important, the earlier high of 9143.9 broke bullish, which makes me very bullish on this current uptrend.
Bull and Bear signals
Signs I will be looking for on the positive side:
- a higher low (anything above 9062 is an hourly higher low)
- crossing of 10 000
- 10 112 resistance breaking (earlier high)
Red flags:
- 9062 breaking bearish
- 8506.7 breaking bearish
- 8342 breaking bearish
So currently I am very bullish, I hope the trends keep up and we will see a very good bounce!
Please be aware everything I shared above is just my opinion and is shared only for discussion not as financial advice.
Thanks and have fun!