Finally some good new came out with BAKKT, Whole foods , ebay .. etc, which back up this whole bullish rally, because to be honest we had no idea about this whole bullish momentum we had, and it just seemed like a fake pump.
But does this mean BULL RUN INCOMING ?! Well, you can see on my prior BTC analysis, I do not believe the bull run will kick start until we break above the 8500 region on the weekly time frame.
Big moves are always cleaner on the weekly time-frame, and as you see we are currently sitting at around 8000 region, awaiting for the final confirmation.
The area we are currently on is the one we had so many reversals in the past, even during the last bull run we reversed from 7500 to around 5000 region before heading up higher.
I see so many people FOMOing awaiting for the bull run to take off, but i believe it just doesn’t work like that in crypto, the price is so extended and a pullback back to the 5000 region looks healthy, and that area correlates well with 2 trend lines which we never really retested upon breakup.
It’s Tuesday, there are plenty of time until the weekly closure for whales to manipulate the market, please be patient and wait for that confirmation before jumping in a trade, and remember only a clean break and closure above the last high of 8500 would be a bull-run confirmation.