Some pullback is expected...
This may be where we are headed in the near term...
Bitcoin broke the downtrend, a relatively long term long trend in fact.
However, usually things don't take off once they break a downtrend, there is often a retrace to that downtrend before more upwards direction ensues.
If that is the case, we are probably experiencing that right now.
Check it out:
(Source: https://twitter.com/rovercrc/status/1623683888798384131/photo/1)
Some pullback before more up seems likely to me...
That being said, we don't want to see the price go below $20k, otherwise this downtrend break could end up being invalidated, a head fake.
You are right. it is happening now!
Upvoted! Thank you for supporting witness @jswit.
Who are holding FLOKI and BabyDogeCoin?
@jondoe
Great analysis! It's always important to take a step back and look at the bigger picture when it comes to cryptocurrency. Breaking a downtrend is definitely a positive sign, but it's also important to pay attention to any retracements and make sure they don't bring the price below key support levels. Keeping an eye on the $20k level is wise, as a dip below that could potentially invalidate the bullish trend. Good luck with your investments!