Bitcoin is rising again at least momentarily, the bulls rule and bears are struggling somewhat. While the Crypto Currency has experienced a steep fall in the last few months the investor’s appetite seems to be building a bit. This can just be a case of value buying or a sign of imminent reversal in fortunes. So far in today’s trade Bitcoin is up by 531.33. Buyers might see some sign of relief but nothing significant to make them feel over excited just yet, the price increment in Bitcoin at present is not necessarily overpowering unless of course the upward momentum builds up further. Just to put recent movement in some perspective, the Digital currency mounted to an All Time High of $68000 in November 2021 to immediately face extravagant spree of selling; as a consequence it has lost $37814.71 or 55.61% in value and the general trend has been negative since. It is hard to categorize today’s trade statistics as any sign of trend reversal however.

Good News for bulls is that the medium term trend is now positive in my humble opinion, considering it has gained $ in last 31 days. It is being argued that the medium trend is actually very important while analyzing an instrument like Bitcoin. The definition of trend might vary though. The long term technical view on the Bitcoin charts stays the same for me i.e. negative, and though it isn’t a bright outlook in any possible manner but a certain threshold of buyers interest is required to break the pattern and reverse the reading on this indicator.

Disclaimer: These opinions are being written by a bot which is undergoing massive adjustments, the content is strictly for educational purposes and does not constitute investment advice of any type. Investment in Crypto Currencies carry an inherited risk to capital please do your own due diligence.

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