Bitcoin has been swaying at a high recently, unable to rise!
Just before, three large bearish candles appeared, and suddenly a large bullish candle of 'bullish engulfing' popped up, clearly indicating that the bears were smashed back by the bulls; a rebound is definitely expected in the short term!
Don't be fooled by the current swaying; this rebound is highly likely to push upwards! Why? Because that 'bullish engulfing' pattern is the rallying cry for a bull counterattack, just like someone suddenly retaliating after being pushed down; the price is likely to surge from this current consolidation zone and test the resistance levels above.
Let me mention a few key signals: the previous 'hanging man' pattern was the bulls flexing their muscles, telling the bears 'I'm about to act'; the 'doji' in between was both sides clashing at a crossroads, with no clear winner; the bears then smashed down three large bearish candles (black three soldiers), but in the end, the bulls directly countered with a large bullish candle (bullish engulfing); isn't this plot twist exciting?
Currently, the overall trend is still dictated by the bulls! Although there has been a recent pullback, the price has only retraced to a critical position without breaking down, which is like a running start before a long jump – the lower you crouch, the higher you can leap! I dare say, as long as this support level holds, Bitcoin is highly likely to surge upwards; dreams of $100,000 or $110,000 are not impossible!
But I must remind you: don't get overly excited about the short-term rebound; a bullish overall direction doesn't mean there won't be any pullbacks. Keep a close eye on the support level; if it breaks, make sure to run!
Recently, I plan to position myself for a potential coin that is ready to explode; doubling it should be quite simple, with an expected upside of over 10 times posing no problem. If you want to follow along, like + comment, and I will share for free!
