Bitcoin - This is what I see

! Not financial advice but someone sharing his trading diary! - Make your own plans and you will do fine in the long run.

I don't believe Bitcoin turned ultra bearish because it is closing (and opening) days below the 50 MA.

Although I recognize that this is not the best environment for swing longs ( Better wait for a re-test of 45-48 K or breaking out the range), a buy the dip scenario starts to appear - Unique buying opportunity !

I still believe there is a fair chance for the bulls to push price up again if bears don't act to push price lower soon.

- Dips towards the bottom of the range are being bought very aggressively.

Bullish:
- Bulls are doing a good job keeping the price moving sideways, it might make bears lose patience and close their shorts or a short squeeze if price suddenly takes 57k -60k (aiming at the CME gap).
-- This fractal (from September 2020) shows what happened the last time when BTC dropped below the MA.

Ultrabullish:
- If the next retest of the bottom of the range fails, bears might win on the short term and push price towards the 21 Weekly EMA (currently around 45k but this is moving up).
- If this happens, retail capitulates and then big pockets can finally fill their positions. This would be extremely bullish. and there is a high chance of an explosive movement towards 80 K and beyond, total hype and then we can finally see our blow-off top forming. Time to get out and let the bear market begin.

Bearish (unlikely):
- If 48k-45k doesn't hold, we could see much lower prices (say hello to 30k).


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