Bitcoin on Sunday

Today once again a look at the chart of bitcoin. The last PG on the 6 hour chart has already broken out. However, a decent performance is still missing, because we are since then in a sideways phase.

The round 50K mark is imminent and this will probably be observed by many market participants.
This will probably decide whether that was it for now or whether it simply continues. The lack of volume in the purchases is already conspicuous. The corrections or recoveries stretch more and more in the length. This is usually a sign of incipient fatigue.

But the trend is still upwards and there is no reason for short positions.

The bulls are getting tired but they are still tromping. Even exhausted bulls can still have a lot of strength. Right now it's just the time of continuous rise, much like climbing a mountain.

Source: (Guidants/Godmode Trader) & JFD Broker & Binance

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