I'm not a huge believer in technical analysis when it comes to Crypto, but some patterns definitely come into play when you look at the past, especially when those patterns keep repeating the same situation from the bounce in September. From what the entire market and the Crypto charts are currently indicating, it is incredibly likely that the market is about to pump again.Bitcoin making a textbook bullish divergenceBitcoin has also started to reverse trends making a textbook bullish divergence and breaking out of previous resistance. Just the look of a bullish divergence on the chart alone is going to greatly reduce selling pressure and increase buying pressure among investors.The S&P500 is also making excellent gains today along with the Nasdaq index and we can expect some spillover action from the stock market into the Crypto market. Moreover, the Crypto market has been consolidating for a very long time without any major crashes or volatility for the past few weeks which definitely is a great indicator of us still being in a healthy market, especially when you combine that with Christmas where even more people are going to buy.TLDR: The market is making a textbook bullish divergence and it is very likely that the market is going to be reversing trends this Christmas.
Submitted December 22, 2021 at 02:57AM
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