The Bitcoin and overall financial market has been rallying for sometime. Is this a beginning of a new bull market in crypto? If the market continues to go higher we may reach 27K. Possibly , with enough momentum 34K. I highly doubt we will get there before any significant retraction. Inmost cases , the price retest newly formed bottom. I still expect to price retest levels between 15 - 19K.
Daily chart looks great but on a longer time frame we are still in a downtrend. I do not expect a beginning of a new bull market until the price retests the previous bottom. However, we are getting much closer to the end of a crypto winter.
Buy BTC?
Please note, we’re not offering any financial advice. It’s worth researching the topics of cryptocurrency, trading, and investing on your own or reaching out to professional advisors.
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