Is it the new bull run for BTC?
Hello my fellas,
I have not captured much of the crypto scene recently, BTC movement during the week was a drop to the critical support 5k8 before reaching 6k6 resistance.
Looking at my chart, you can see from the recent high of 8k5 to the current low 5k8, the buyer side is trying to push above the fibo 0.618 (6k8), this is a key resistance to break to confirm the next rally. Another signal that the sellers are fading is the bearish convergence.
New capital going in? Altcoin recovers and ready for a bullrun? Unsure, wait for a confirmation first. but for now i will stick with the mother of all coin: BTC
We can place a small bet: entry 6k450 with a stop loss at 6k2. Take profit: 6k8 - 7k2 - 7k7. I would wait for a small pull back to enter.
P/S: Wait for confirmation.
To the question in your title, my Magic 8-Ball says:
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it's a fake move like we had in history... 4h indicators are turning bearish
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