The downward channel meets the secondmost important trendline in crypto at 45k. Bulls last stand is on the big trendline. Holding above it seems positive.
Looking to break 51-52k for repair. Otherwise just hanging out. In the meantime opportunities for trades in the channel if one chooses.
Overall - still neutral. Usual bullish case for bitcoin very intact, but how long will it take to play out who knows; bearish case is deleveraging risk but intuition is telling me that there is too much fear for that right now though.
Looking to break 51-52k for repair. Otherwise just hanging out. In the meantime opportunities for trades in the channel if one chooses.
Overall - still neutral. Usual bullish case for bitcoin very intact, but how long will it take to play out who knows; bearish case is deleveraging risk but intuition is telling me that there is too much fear for that right now though.
