In the recent Bitcoin rebound, the well-known trader Skew expressed cautious optimism about the current trend, stating that the market seems to lean bullish.
He posted on X, stating: “So far, this rebound has been effective, with prices retesting the systemic trend, rising from $68,000 to $108,000.”
He pointed out that the Relative Strength Index (RSI) on the 4-hour chart showed a 'clear' bullish divergence, describing the failed attempts to push down BTC/USD as a 'failed auction.'
Keith Alan, co-founder of Material Indicators, noted that the Bitcoin price remains stuck between two key Simple Moving Averages (SMA), with the 21-day SMA (approximately $99,600) and the 50-day SMA (close to $94,650) now defining BTC's immediate range.
Alan is unsure which level will break first and noted that since mid-October, Bitcoin has remained supported above the 21-day SMA, briefly dipping below that level this week.
Cryptocurrency investor Satoshi Stacker stated that due to the U.S. traditional financial markets being closed for the holiday, the Bitcoin market will temporarily ease selling pressure.

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