Actually - my opinion remains that caution is still merited, and in fact, the need for it seems to be ramping up.
The below chart shows the lack of follow-through today (thus far) after yesterday’s seemingly convincing reversal. Further, the price has been rejected at the lower, now broken trendline, which I will now consider resistance till proven otherwise. In my opinion, a close over $1990 with conviction may be a signal that an actual reversal is happening for a run to the highs.
Bitcoin, on the other hand, has thus far recovered 25000 and is moving higher today; I remain on the lookout for a breach of the flag formation and 50-day moving average to the topside for a sustainable move up.
Thanks, and have a great weekend.
