The bulls have been taking some risks at these levels winning quite a few session too, while the market predominantly have displayed signs of life. Bitcoin is actually gaining value again right now so far it is up by 1730.66 in today’s trade. It can just be value buying or a sign of an emerging bullish trend. Bitcoin is heading North with major positive momentum and is gaining value in due course. There is a clear indication of a potential shift of trend; a few more trading sessions of similar output can very much put the crypto currency in conclusive green zone. The context of this is the story of great fall of Bitcoin, back on 10th of November 2021 Bitcoin soared to a historical high price of $68000 but confronted an abrupt selling bender of extraordinary quantities. To date the prime digital currency has shed $42110.83 or 61.93% of its value to sellers. Many investor wonder if there are any irrefutable signs of a trend reversal? Can this development serve as one? An optimistic answer to above is yes, though the market is always risky.

Though the time frame or definition of trend might vary. Some analyst agree that the medium term trend is extremely important when analyzing an instrument of similar nature. Bitcoin has gained $ in the last 31 days which implies that the trend is now positive in my view which bodes well for buyers. 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.