Bitcoin - BULLISH, but is it REVERSAL?

8 jul 2022

Hi Traders, Investors and Speculators

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.

A quick scalp update on BTC 4h. Bitcoin has been seeing a mini rally over the past 48 hours. BTCUSDT 4h may seem bullish , but I'm not convinced that it's a reversal just yet. Overall, market conditions are still too bearish to call for the start of another bull market. I believe we may see some extreme weekend volatility . However, by taking a quick look at Fibonacci retracement Bollinger Bands in the 4h, we see a possible price target towards 23K for the IMMEDIATE TERM.

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