In the past few weeks, Bitcoin has experienced renewed growth that I believe was caused by a shift in public opinion, the regulatory concerns that haunted BTC back in January are over and interest in the space both for retail and institutional investors seems to have improved.
In the short term I if BTC can keep above the range of 8700-9000 it could still follow...
Yesterdays pump was a perfect example of a bear trap. When the price fell out of the channel, many decided to take leveraged short positions that were quickly triggered by the unexpected increase in price, which at the same time triggered more positions, remember that when a short position gets liquidated a buy order is placed.
Today Bitcoin has surprisingly...
UPDATE:
Well, this sure was absolutely ridiculous, overnight we fell downwards out of the yellow channel and we fund support on the 6750 level marked in blue. After bouncing off of the support we encountered some resistance to get back into the channel, but once we were inside, insane volume kicked in and a lot of short were closed, the bulls finally took control...
This is a quick and simple look at the 15-minute chart of Bitcoin,
I believe that a trend reversal has already occurred and we are seeing the beginning of the new tendency, I would be happy to post my analysis of the long-term picture if I see some interest.
BTC has stayed inside the yellow channel for the past few days, the upper limit has proved to act as...
