I understand everyone wants to be bullish right now because bitcoin has been in a slump for the past two years. I personal don't think we have seen the bottom yet, 9k is a very strong resistance as everyone saw last week when bitcoin failed to break the bearish channel. On the daily chart, you can see the 21 EMA acting as a resistance hovering over the price action and the 55 EMA barely holding support at these levels. Bitcoin is not done correcting IMO we will see 8k before we see 9k.
Don't fall for the bull trap my fellow traders.
Don't fall for the bull trap my fellow traders.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.