Bitcoin Analysis

Bitcoin found its support at 15.5K. The price has been having a bullish correction. If it makes a bearish breakout at 15.5K, the sellers may go short again and drive the price towards the South. On the other hand, a bullish reversal pattern may attract the buyers to go long in Bitcoin.
 
Until there is a break of structure it is bearish. This sitting on the fence thing is nonsense. BTC has never been around during a full global recession. The idea that it could turn bullish until things look better globally is absurd in my opinion
 
Bitcoin had a strong bounce at 16K. It made a good bullish move. The price may consolidate and find its support around 16.5K. A bullish reversal pattern may attract the buyers to go long.
 
The H4 chart shows that the price has been up trending by obeying a trend line. It may remain bullish as long as the trend line works as a level of support. The level of 18K may work as a level of resistance later.
 
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