Bitcoin is bullish, but caution
Although I commented in past analyzes that bitcoin is bullish, and I continue to think that it is, it should be remembered that in any market, when something becomes very obvious, it tends to surprise, with the intention of creating momentary chaos that will react to the participants in a certain way.
Thus, as can be seen in rectangle A, an abysmal drop in the price for a short period of time, released the purchase contracts of the traders who fell into a panic, to immediately rise again.
By this I mean, that while Bitcoin has many ballots to be bullish, precisely because of the media load that is being given recently, it is not surprising that it makes a move DOWN to create momentary chaos and remove everyone from the market.
Thus, as can be seen in rectangle A, an abysmal drop in the price for a short period of time, released the purchase contracts of the traders who fell into a panic, to immediately rise again.
By this I mean, that while Bitcoin has many ballots to be bullish, precisely because of the media load that is being given recently, it is not surprising that it makes a move DOWN to create momentary chaos and remove everyone from the market.
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