If you're still fading every bounce in $BTC expecting a lower high, stop now.
Traders have been getting wrecked by these higher lows for weeks, watching shorts get squeezed as price refuses to make new lows. The FOMO hits later when they finally cover at worse prices.
On LTF, $BTC has already printed a higher low and sits just shy of a higher high. Bears argue this is still a downtrend on higher timeframes with plenty of resistance overhead.
I see it differently though. The way volume is coming in on these bounces suggests buyers are in control short term, and a confirmed higher high could change the narrative fast.
This setup has legs to pull $ETH and $BNB higher if it confirms.
Where do you think this goes from here?
#Bitcoin #TechnicalAnalysis #Crypto
Traders have been getting wrecked by these higher lows for weeks, watching shorts get squeezed as price refuses to make new lows. The FOMO hits later when they finally cover at worse prices.
On LTF, $BTC has already printed a higher low and sits just shy of a higher high. Bears argue this is still a downtrend on higher timeframes with plenty of resistance overhead.
I see it differently though. The way volume is coming in on these bounces suggests buyers are in control short term, and a confirmed higher high could change the narrative fast.
This setup has legs to pull $ETH and $BNB higher if it confirms.
Where do you think this goes from here?
#Bitcoin #TechnicalAnalysis #Crypto
