đ Bitcoin's Bullish Comeback? đ
Hold onto your crypto wallets, folks! Bitcoin (BTC) is on the verge of completing a bullish engulfing pattern for the first time in 18 months. Last seen in January 2023, this pattern marked the end of the 2022 bearish slump.
- **Current Trend:** BTC has been on a parabolic rise since hitting a local bottom at $52,150 on Sept. 6.
- **Open Interest:** Soaring to $35B, matching previous highs from Feb and July 2024.
- **Funding Rate:** Flat, indicating trader indecisiveness.
However, short-term volatility looms with spot traders aggressively selling into $66K resistance. đ
What do you think? Will BTC bounce back or dip further? Share your thoughts below! đŹ
