BitcoinLong
BTCUSD - Bull Market?
The price just broke the minnow resistance area and that's a good sign, the price will more likely continue highere. If the price can break Key resistance area which can take some time, that would be great for the cryptocurrency market generally.
The market has without a doubt stunned the bears, and yet there are many still calling this a bear market. In the mid term that is a valid statement but in the long and short term this is definitely a bull market.
Whether this is the beginning of a bull market or just a good ole bull trap there is no clear answer, but the fact we were off an extreme low, the entire market is moving up, and there is still a huge short interest, I am moving towards this is the first leg of a longer term bullish move.
This market reminds me exactly of what happened in 2012 where everyone was calling for lower lows, and the market moved against the shorts many that doubled down, into an already crowded position. Here's your sign!
The market has without a doubt stunned the bears, and yet there are many still calling this a bear market. In the mid term that is a valid statement but in the long and short term this is definitely a bull market.
Whether this is the beginning of a bull market or just a good ole bull trap there is no clear answer, but the fact we were off an extreme low, the entire market is moving up, and there is still a huge short interest, I am moving towards this is the first leg of a longer term bullish move.
This market reminds me exactly of what happened in 2012 where everyone was calling for lower lows, and the market moved against the shorts many that doubled down, into an already crowded position. Here's your sign!
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