As you can see, btc is still currently on the bear trend, so be very risk aware on your positions.
The bullish sign is that btc closed above MA100. Moreover, BTC fundamentals keeps getting more bullish and halving is coming in less than 4 months! This could fuel the btc into the bull market as we have seen in the past.
Currently we are at the top of the channel with multiple support areas in ~7k area. Breaking out of the channel with volume and closing above 10k would mean that new bull run could start. Otherwise if we get rejected and follow the channel then new lows are very possible. I am not putting any positions at this exact area, and will wait for channel break or rejection. Lets see what the future will bring.
The bullish sign is that btc closed above MA100. Moreover, BTC fundamentals keeps getting more bullish and halving is coming in less than 4 months! This could fuel the btc into the bull market as we have seen in the past.
Currently we are at the top of the channel with multiple support areas in ~7k area. Breaking out of the channel with volume and closing above 10k would mean that new bull run could start. Otherwise if we get rejected and follow the channel then new lows are very possible. I am not putting any positions at this exact area, and will wait for channel break or rejection. Lets see what the future will bring.