If you forget about technical analysis and look at bitcoin from just a human psychology point of view. The vast majority of people looking to making a profit from bitcoin are always going to sell before the spot price reaches the all time high. Likewise, when the price of bitcoin falls they will assume to buy slightly above the all time low to maximise their chances of buying near the bottom.
For this reason, I personally think that BTC will not remain bullish and will enter a shorter bear market in the coming week/months. I believe that we will retest the 6K region where most will be prepared to refill their bags.
The current price actions depicts that there is a lot of fear in the market, if the 10K support is broken again we are going downnnnn.
Just my observation, let me know what you think :)
For this reason, I personally think that BTC will not remain bullish and will enter a shorter bear market in the coming week/months. I believe that we will retest the 6K region where most will be prepared to refill their bags.
The current price actions depicts that there is a lot of fear in the market, if the 10K support is broken again we are going downnnnn.
Just my observation, let me know what you think :)
