I have seen many people panicking due to the recent pullback, and others even calling for $18k. At the moment I see no reason at all to panic, we have pumped very fast and a pullback is totally natural and expected.
There was bearish divergence on the 4hr which played out, taking us down from above $40k to low $30ks. Now we have oversold RSI on the 4hr and a bullish divergence forming. Also have made a higher low.
On the daily we still remain above the 21ema. As long as we do not close a daily candle below with significant volume, my bias will remain bullish.
There was bearish divergence on the 4hr which played out, taking us down from above $40k to low $30ks. Now we have oversold RSI on the 4hr and a bullish divergence forming. Also have made a higher low.
On the daily we still remain above the 21ema. As long as we do not close a daily candle below with significant volume, my bias will remain bullish.
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