Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.
It is not possible to predict anything by looking at the market sentiment. Because the market movement can change at any time. But those who hold bitcoins have faith in bitcoins and depending on it they try to reach their goal. Bitcoin price reduce from $73k to $57k after new ATH. Some investors were quite disappointed by the price drop. But currently Bitcoin is back to previous levels. It is easy to understand that if there were no buyers, Bitcoin could have gone further down but instead it has gone up. I don't think it rising for temporarily. Since it has recovered quickly from the bottom position it will definitely be bullish. The positive attitude of investors forced to the market to turn bullish.