Earlier today, I took some time to scroll through Reddit and Twitter, where I saw discussions suggesting that the recent pullback in crypto is the first leg of the highly anticipated bull run.
While I largely agree that the bull run is far from over, a broader look at price movements across multiple markets indicates that the bear market isn’t over yet.
To prove this point, I will be analysing Bitcoin's price charts.
On Bitcoin's daily chart, it's clear that the current price movement is more of a correction than a reversal.
Zoom in to the 4-hour chart and and you can see how the pullback moves in an ascending triangle. Over the next few days we might see price break below the channel and head for the area around point 'B'.
This will serve as the pullback for this short swing, where bulls will temporarily drive prices slightly above the most recent high before a sharp decline leads to the formation of a new low.
While I largely agree that the bull run is far from over, a broader look at price movements across multiple markets indicates that the bear market isn’t over yet.
To prove this point, I will be analysing Bitcoin's price charts.
On Bitcoin's daily chart, it's clear that the current price movement is more of a correction than a reversal.
Zoom in to the 4-hour chart and and you can see how the pullback moves in an ascending triangle. Over the next few days we might see price break below the channel and head for the area around point 'B'.
This will serve as the pullback for this short swing, where bulls will temporarily drive prices slightly above the most recent high before a sharp decline leads to the formation of a new low.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。