🔥 Bitcoin: Minor Correction After Break Out Possible

8 בפבר׳ 2022

Recently, the crypto markets have broken out of a ~2.5 month bear sell-off. The dotted line of the chart was the line that virtually everyone was watching, and we've finally broken out of it, confirming a bullish bias.

However, after a ~22% move within 5 days, it might be very possible for BTC to see a minor correction before continuing the bull trend. Not saying that this will happen, but there's still a lot of traders who are shorting the market, so everyone should at the very least consider the possibility for a bearish retracement.

In addition, a bullish bounce from the previous resistance would indicate further bullish strength and make the bullish narrative much more likely.

Happy trading!