In technical analysis there are many fun labels for price moves. One of my favorites has always been "dead cat bounce."
The definition of a dead cat bounce is when prices temporarily recover after a large selloff. Usually, it's caused by short sellers covering their position (more so in the stock market).
That is sort of what Bitcoin's price moves have looked liked over the past month.
Schrodinger's Cat
I'm taking a different viewpoint though. Are you familiar with Schrodinger's Cat?
Basically, there is a cat in a box. The question is if the cat is alive or dead? As long as the box is closed in theory the cat is both dead and alive. It's more so a thought experiment, the possibility of either outcome gives hope to all sides, while opening the box will give definition and likely joy and/or pain by now knowing.
Open the damn bitcoin box!
I want someone to open the damn bitcoin box to find out if this coins alive or dead. Cause to be honest, the price action looks rather dead...
And that last sentence, plus some price targets is what I discuss in the below video.
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.