Bitcoin bullish reversal might occur as we approach the Q4 of this year. A very strong bullish BTC trend is inevitable. Bitcoin bulls are very bullish on bitcoin now. They are longing for BTCUSDT on the bullish run. Some institutional whales had parted their ways heavily shorting bitcoin. Later in this article, I’m going to talk about the Bitcoin bullish reversal that might be happening potentially later this year.
If you are a Bitcoin enthusiast, this article will be very important for you as I will break down the future potential of bitcoin in the long run. If Bitcoin is ever going to reverse the current bearish market and escape the bear trap.
What’s happening right now in the market?
Right the market is performing surprisingly well. All the top cryptocurrencies are performing well in the green zone. Bitcoin is also performing very well. Because of bitcoin doing well all these other altcoins are also doing noticeably better than the previous month after the crash. This general reason for bitcoin influencing altcoins price is bitcoin is the backbone of the entire crypto market.
How likey is Bitcoin Bullish Reversal?
According to TheSignalyst “Hello everyone, if you like the idea, do not forget to support with a like and follow.
As per my last video analysis (attached below), we were looking for buy setups as BTC was sitting around a strong support zone in blue (28k-30k)
BTC rejected our blue support zone and traded higher.
But before we buy, we want the buyers to prove that they are taking over again.
You don’t want to buy a bearish market right?
on H4: BTC is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, BTC would be overall bearish can still trade lower till the 28k before going down. or even break the blue support downward.“
Bitcoin performance has been precisely steady through this week. It is holding its position steady in the range of 30K to 35K. Although on Tuesday it dropped below 30K for the first time ever since the bull run has begun. Saturday Bitcoin has been able to hold its price strong at $32,300 although it is seeing strong rejection at $32,400. But I am seeing a consistent upwards trend coming soon for Bitcoin. That’s why you should not ignore the sensitivity and potential of the Bitcoin market right now.