ðĨ Bitcoin Successfully Bounces: Bulls Kept Strong
Two days ago, just after the big liquidation which took us from 44.5k to 40.3k, I made a post where I argued that there were no worries for the bulls as long as the bottom support held.
Around 40 minutes ago, there was another FOMC interest rate decision in favor of the bulls. Stock markets rallied and BTC followed suit. Crypto is rallying back towards previous highs.
The key giveaway was the oversold RSI on the 4H timeframe. Last few times this happened we saw a swift recovery to new highs.
As explained in previous analyses, 48k is still my target for this year, given that the bottom diagonal support will hold. Good job bulls.
Around 40 minutes ago, there was another FOMC interest rate decision in favor of the bulls. Stock markets rallied and BTC followed suit. Crypto is rallying back towards previous highs.
The key giveaway was the oversold RSI on the 4H timeframe. Last few times this happened we saw a swift recovery to new highs.
As explained in previous analyses, 48k is still my target for this year, given that the bottom diagonal support will hold. Good job bulls.
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