Is Bitcoin Confirming a Bull Market?
Kevin Svenson analyzes the recent price movements of Bitcoin using the daily and weekly charts. Bitcoin is currently suffering a mild pullback, battling at the $9,100 level. Regardless of the pullback, the sentiment in the market is still quite positive.
On the daily chart, Bitcoin is trading above the daily channel and created 2 higher lows in the previous days. To confirm the bullish trend, Bitcoin has to post a new higher low in the current channel. On the weekly chart, it's seen that demand for Bitcoin has steadily increased over time which increased its value and it might lead to a new all-time high.