This order book looks pretty interesting to me—the spot bid is absurdly thick, while the ask is paper-thin. The depth is nearly ten times greater on the bid side, so bears looking to dump first have to chew through this wall. Aggressive buying is still crushing selling, and buyers account for most of the trades. This isn’t a bounce; someone is using real money to accumulate. The 1-hour trend is pointing straight up, with price holding firmly above the moving average. The 4-hour trend has also gone from falling to flat, and all the short-term momentum is backing the bulls. This price action is slapping me in the face—anyone putting on a short here is just handing the bulls more ammo. Don’t wait until it’s already gone up to kick yourself. Given how things look right now, I’m siding with the bulls.