Confluence of three bullish indicators:
1. pin bar indicating reversal
2. long-held downward trend line that has been in effect since ~February was 'broken'. The line is now acting as support.
3. bullish pennant
Long term, I see bitcoin going dooooown, but this looks like a short-term uptrend. I suspect many were short since we were up against the long established downward trend line so a short squeeze will result in a BTC upward move.
But hell, I really have no idea at all where this crazy train is going.
1. pin bar indicating reversal
2. long-held downward trend line that has been in effect since ~February was 'broken'. The line is now acting as support.
3. bullish pennant
Long term, I see bitcoin going dooooown, but this looks like a short-term uptrend. I suspect many were short since we were up against the long established downward trend line so a short squeeze will result in a BTC upward move.
But hell, I really have no idea at all where this crazy train is going.