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📷 The market is in a “test of faith” phase
One side is shouting “the bull run is over, sell everything to be sure”. The other side is all-in because they believe a breakout is coming.
Both sides can be wrong: because if you sell early, you miss the big wave, and if you all-in, a small drop is enough to wipe out your account.
Technically, Bitcoin is still holding an important zone, when the price is above the 50MA (50-week average) – which is considered the “survival line” of the uptrend.
As long as $BTC is above that, the bull market is still intact.
If it falls below the 98k – 102k zone (the “Last Hope” zone), then it is time to re-evaluate the whole picture.
Q4 is typically a strong season for crypto, and with just a few catalysts like a US-China trade deal or the US government reopening, the fear can disappear overnight.
👉As long as BTC is above the 50MA, the bulls are still breathing.
If it falls below, it's time to change plans.
Read more:
#coinminutes