Alright, here's a little summary of what to look out for with $BTC. This is an analysis purely on trends, no indicators are used.
A: We broke below the long time bullish trendline, when we went down to about 6k. This was a major bearish sign but $BTC, as it does, doesn't care for traditional signs and bounced back.
B: We had a bulltrap fool us in January, which keeps lingering in the heads of bulls, so we have to have a close look on if this might be another trap. We'll have to break above the box to surpass the possibility of a repetition of the same trap.
AB: There's a possible fractal playing out, which would be showing a possible reversal of the bearish trend. Last time $BTC bounced from a plummet with volume like this, we were in for a major trend reversal and bull run.
Let's see which one plays out, happy and safe trading!
A: We broke below the long time bullish trendline, when we went down to about 6k. This was a major bearish sign but $BTC, as it does, doesn't care for traditional signs and bounced back.
B: We had a bulltrap fool us in January, which keeps lingering in the heads of bulls, so we have to have a close look on if this might be another trap. We'll have to break above the box to surpass the possibility of a repetition of the same trap.
AB: There's a possible fractal playing out, which would be showing a possible reversal of the bearish trend. Last time $BTC bounced from a plummet with volume like this, we were in for a major trend reversal and bull run.
Let's see which one plays out, happy and safe trading!