Even at 56k I am still bullish on BTC.
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Here's why 😵💫
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❤️Daily and weekly KDJ oscillator suggests that the present sell volume is not that strong. Most likely, the present dump is just a random whale selling his stack at market price.
❤️The same Daily KDJ oscillator has detected massive buy volume from whales and retail investors at 71k. It means price will most likely bounce back to 71k in the comming days or weeks, and may even go beyond it.
❤️A huge double bottom has formed in the monthly chart. Upside target is 107k. See chart below.
❤️Price is down, but if you'll zoom out the monthly chart candles are just moving along the double bottom neckline. It might be hard to believe now, but it is most likely making the necessary support to sustain another good rally.
Surely, majority is bearish now, as BTC is literally diving down. But hey, you know candles and price action will always move in zigzag. Expect bumps and bruises along the way, as BTC paves it's way up.
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