🔥 Bitcoin: Are We Bullish Yet? Easy Analysis
Since the drop we got during last summer, Bitcoin has seen 3 bearish periods:
1) Mid-cycle bear market, May - July.
2) September correction.
3) November - December correction, which we're experiencing now.
As seen in the previous two corrections, there was a very easy and straightforward way to see whether the bull-run continued or not.
Connecting the tops of the bearish trend creates a very clear and strong resistance level. Price above said resistance means bullish, price below said resistance means bearish.
With the overall market picture still being bullish, it's likely that Bitcoin will break out of this bearish trend at some point in the near future. If we have to go lower still, so be it.
If you're waiting for a very clear and clean signal to get back into the market and trade the bull-trend, wait for the price to break through the down sloping resistance.
Happy trading!
1) Mid-cycle bear market, May - July.
2) September correction.
3) November - December correction, which we're experiencing now.
As seen in the previous two corrections, there was a very easy and straightforward way to see whether the bull-run continued or not.
Connecting the tops of the bearish trend creates a very clear and strong resistance level. Price above said resistance means bullish, price below said resistance means bearish.
With the overall market picture still being bullish, it's likely that Bitcoin will break out of this bearish trend at some point in the near future. If we have to go lower still, so be it.
If you're waiting for a very clear and clean signal to get back into the market and trade the bull-trend, wait for the price to break through the down sloping resistance.
Happy trading!
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