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 408.88. I find it encouraging for investors but I also hope that they don’t get carried away too much, after all the magnitude of the price increment is not significant yet, unless the upward thrust continues. Although the direction of trade is green (which can reverse anytime) but there wouldn’t be ample inconvenience for bears at these levels. I keep reminding everyone that Bitcoin has lost over $43432.61 or 63.87% since Nov 2021 when it made an all-time high of $68000 following which the steep decline is being observed. The real question therefore is: Are there any real signs of trend reversal yet?

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. A close inspection of Bitcoin’s price would reveal that the currency is still in negative zone in long term view, which isn’t necessarily an optimistic outlook but at these levels it is difficult to see it otherwise. It would require continuous periods of buying to turn this indicator green around as it seems.

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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