BTC is currently trading just above $16,500, which is the critical resistance. It is trying hard to validate the current upswing. Therefore, a slight pullback close to the previous resistance could be prominent before the price moves up.
Yes. It appears Bitcoin is pumping, and bucking a bear market. The price of Bitcoin has now reached $ 17k, but the chart conditions are unstable. Maybe this is a good start for crypto growth. We just need to be careful, because problems with crypto keep happening, so we don't cause bigger losses. I think short term trading is better to anticipate bear market.
It is important to be prudent when it comes to our predictions about what it could happen during the next weeks, because even if it is a good news that bitcoin has surpassed 17k, at the same time it is not as this is a groundbreaking achievement, and in social media I am already seeing some people predicting a bull market and major upwards movements when we have no idea if this is actually going to happen at all, since the market is so unstable that it could always move in the opposite direction for no apparent reason.