I think the bearmarket isnt done yet as we are fishing for a bottom.
But we could see some up swings before we ultimately go towards 3200 and test the lower 3k range
Any thoughts?
The bear market is not over yet but gladly, bitcoin price can increase yesterday but now, the price is back to $39xx again. Maybe the price will be like this for a while and I think the up and down will happen in many times. I guess we still have a chance to make a profit because if the price is up and down, there will be nice differences of the price which we can use to buy and sell and we can make the profit. But many of us still waiting for the market recovering so we can make a bigger profit.
It does shows some gradual increase came from $3200 on previous months and now we did able to break $4k and its no surprise that we would able to see some pullbacks on price.
Specially for those who do short but if this momentum wont be break then we might see $5k soon but basing on the price movement as of this moment it is somehow stabilized.
Yeah, it's better we prepare to see the down on price and make a buy order if necessary so that we can have more bitcoin. But if the demand still increases, it's possible for the price to break the highest level price which means we will make another profit in this month.
But I think traders who make a short order will have a little confusing to detect or to place or continue the order in the middle of this situation because one mistake they'd make will give a lose to them.