With 18k resistance broken and five consecutive days in green, Bitcoin appears to be in the process of a massive reversal in its price action.
Questions are starting to pop in, was Nov 2022 the bottom?
Some could even argue this is a double bottom formation and there is only up from here. No more lower lows.
Can we trust this or is it too early?
The current price action calls for optimism and BTC is likely to continue this momentum. But a short-term pullback in this area is likely as resistance above 18k will be tougher.
Nevertheless, for this bear market to be truly over, BTC has to move above $22k. That would confirm it and it is less than a 20% pump from the current price.
Totally doable in my book. Keep stacking sats and hodl. The worst may be behind us.
Like and follow if you liked my idea!
Questions are starting to pop in, was Nov 2022 the bottom?
Some could even argue this is a double bottom formation and there is only up from here. No more lower lows.
Can we trust this or is it too early?
The current price action calls for optimism and BTC is likely to continue this momentum. But a short-term pullback in this area is likely as resistance above 18k will be tougher.
Nevertheless, for this bear market to be truly over, BTC has to move above $22k. That would confirm it and it is less than a 20% pump from the current price.
Totally doable in my book. Keep stacking sats and hodl. The worst may be behind us.
Like and follow if you liked my idea!
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