BTCUSD / Bitcoin is making a weekly falling wedge pattern which is pretty clear, it could mean a reversal is in process however we don't believe we have seen the MAX pain on the space just yet IE where everyone gives up and cuts their positions.
On a number of social media platforms we have been monitoring this sentiment however and it does seem a lot have cut their positions a couple of weeks ago, so its hard to know at this time.
This could be a dead ca bounce where we could spike to $10,000 or a little more before new news then come after trapping FOMO chasers.
For now at least we are Neutral to short term Bullish.
On a number of social media platforms we have been monitoring this sentiment however and it does seem a lot have cut their positions a couple of weeks ago, so its hard to know at this time.
This could be a dead ca bounce where we could spike to $10,000 or a little more before new news then come after trapping FOMO chasers.
For now at least we are Neutral to short term Bullish.