We have had a really strong increase in price and it seems like we might have entered another bull market, but, is this sustainable? Is it a bear trap?
Bitcoin currently is testing a few key resistances at the 50, 100, and 200 day MA. We seem to have broken through the 50 and 200 and had a slight pullback. If we can hold above these levels, it is possible that we may have a more sustainable runup. I think if we can break through the 100 day, currently at $8995, and hold above those levels we can see a nice bull run. Again, you need to remember that the markets are extremely volatile and only invest what you are willing to lose.
This isn't financial advise, invest at your own discretion.
What do you think of the current market? I personally feel that the bulls are back.