Current thoughts about Bitcoin. I see many people becoming bearish and yes, there are some reason to be cautious. I'll explain in this small thread why I am still leaning towards a bullish bias and new all time highs in the next few weeks.
2/ Let's look at market structures. They give me very valuable information. Short term we are making lower highs and lower lows, so that's why people become bearish. We need to create a new higher high to change that trend. I'll show below why we could start going up from here.
3/ The bigger picture still clearly shows higher highs and higher lows. So all I am currently looking at is forming a higher low somewhere. The grey zone, which currently acts as support, could be the higher low area. If we get a 4h close above $59.867 I am expecting new ATH's