Bitcoin has remained bullish for the 5th consecutive week and it has now regained more than 50% of its previous losses.
There's been a growing sentiment that the crypto-market has resumed a bullish trend as demand for crypto payment is growing in different sectors.
but right now, bitcoin is about to face a very key supply level around 50,000 mark and may bring about another phase of selloff.
If history is off any guidance, the major correction is still far from over and could still potentially find itself sink deeper beyond 30,000 again.
this week, we will wait for clear signs of reversal at the supply level around 50,000 before we start looking for selling opportunities.
Otherwise, following the frenzy right and buy the pullback from every bullish wave could prove rewarding as well especially for day trading.
There's been a growing sentiment that the crypto-market has resumed a bullish trend as demand for crypto payment is growing in different sectors.
but right now, bitcoin is about to face a very key supply level around 50,000 mark and may bring about another phase of selloff.
If history is off any guidance, the major correction is still far from over and could still potentially find itself sink deeper beyond 30,000 again.
this week, we will wait for clear signs of reversal at the supply level around 50,000 before we start looking for selling opportunities.
Otherwise, following the frenzy right and buy the pullback from every bullish wave could prove rewarding as well especially for day trading.
