Watching Bitcoin - Bulls vs Bears
Bitcoin is fighting to stay bullish and continue the uptrend force we saw through 2020. The problem is the bears are gaining confidence while some indicators are signaling the end of this bull run. We're watching closely, here's what we're seeing... 🤨
The moving averages are telling the story of a battle between a breakout and a nose dive. Just a few days ago we had a golden cross but it wasn't a strong enough move and we have dipped back down. Currently it appears that a bearish cross is happening again and will be confirmed tomorrow.
The RSI is at around 50 right now which means we'll still have a pretty even mix of buyers and sellers. This furthers the narrative that we're watching a battle of believers and doubters. Time will tell how this plays out long term, but short term we're calling this bull run uncertain.
Keep watching the charts! 📈
Please note : this is opinion and should not be taken as financial advice.