With Bitcoin putting in some big upside this week based on false ETF news, I am keeping an eye on what would change that narrative (at least in terms of charts).
BTC currently looks bullish, but with the pump from the news was a false news release so I am very skeptical about how long this will hold. What I am watching for to invalidate this bullish idea is simply a break of 31.7k. If we get a strong candle close below that level, it would confirm a bull trap on this price pump and I would expect us to make a continual decline down to 25k at the least.
With Bitcoin putting in some big upside this week based on false ETF news, I am keeping an eye on what would change that narrative (at least in terms of charts).
BTC currently looks bullish, but with the pump from the news was a false news release so I am very skeptical about how long this will hold. What I am watching for to invalidate this bullish idea is simply a break of 31.7k. If we get a strong candle close below that level, it would confirm a bull trap on this price pump and I would expect us to make a continual decline down to 25k at the least.