We could go sideways for a couple of months if the support is not broken. We made a higher low, implying the support looks strong so far. If we break the first resistance and cross above EMA50, we can see a double bottom in works, which on failure to break the second resistance would further confirm the sideways movement of BTC.
The long-term trend of Bitcoin shows that it could be in accumulation phase after a blow-off top at 20k. This sideways market is healthy for further continuation of a parabolic trend on a much larger time frame (weekly).
Regards,
nsai
The long-term trend of Bitcoin shows that it could be in accumulation phase after a blow-off top at 20k. This sideways market is healthy for further continuation of a parabolic trend on a much larger time frame (weekly).
Regards,
nsai