Short term there is enough space between the daily moving averages to make a climb back out of the downtrend and stay above 7k.
Historically this is unlikley as BTC has a tendency of losing 70-90% of its value before making hella gains.
If BTC fails to hold 6-7k support it would continue on a downtrend until it around the beginning of Q4 Where most bulls come into action.
There is ALOT of support pointing from 3-3.5k which would eventually also break it out of the downtrend. Into another huge bull blowing past all time highs. PUMP or DUMP ; short term is irrelevant compared to the gains it will eventually make.
Historically this is unlikley as BTC has a tendency of losing 70-90% of its value before making hella gains.
If BTC fails to hold 6-7k support it would continue on a downtrend until it around the beginning of Q4 Where most bulls come into action.
There is ALOT of support pointing from 3-3.5k which would eventually also break it out of the downtrend. Into another huge bull blowing past all time highs. PUMP or DUMP ; short term is irrelevant compared to the gains it will eventually make.
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closer look at the short term bounces
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