Bitcoin recovers, set to move back above $100,000
Bitcoin just hit the highest price since the bearish breakdown, we have a local uptrend, a technical confirmation of the relief rally and recovery.
First, we used the chart signals to predict a reversal and relief rally. Now, it is confirmed based on Bitcoin's price action. We have higher highs and higher lows since 21-November. This fully reveals that we are headed higher in the coming weeks. All the altcoins are also recovering and/or moving forward for a while now.
In the last 24 hours, $216.2M worth of SHORT positions have been liquidated, vs only $11.7M worth of LONGs. This clearly reveals an overwhelming bearish bias and sentiment on Bitcoin and the altcoins market.
What happens when the sentiment changes from bearish to bullish? What happens when the market realizes that we are headed up?
I'll tell you, a massive bullish run.
Namaste.