Reason number 1. Yesterday, Mark Dow, a former economist at the International Monetary Fund and, more importantly, the man who opened the short position right at the beginning of last year’s Bitcoin rally simply closed this position, making a profit.
About this Dow said on Twitter:
In a telephone interview for Bloomberg, Mark Dow stated:
I'm done. I do not want to try to bring it to zero. I do not want to try to squeeze all the juice from this lemon. I don't want to think about it anymore. Looks like it's the right time.
He also explained that he had seen some psychological signs during the euphoria that surrounded Bitcoin last December. These signals told him that the market had reached its limit.
Reason number 2. Currently, BTC / USD is trading at a price of $ 3,749, showing an increase of about 6% in the last 24 hours.
Also, the digital coin No. 1 has been growing for the third day in a row, creating an exciting Three White Soldiers candlestick pattern on the daily chart.
If Bitcoin manages to keep the rally during the day, then a strong long-term reversal signal can be seen. “Three White Soldiers” came after a short period of half-hearted trading that followed a strong bearish trend. Big bullish candles with small shadows mean that the bulls are getting stronger and ready to take control of the situation. To confirm this BTC candle pattern, you need to end the day at a level above $ 3,800.
And what do you think about this? Leave your comments below!
We remind you that the cryptocurrency market is always associated with risks. This article is presented for informational purposes only and is not a recommendation for the purchase or sale of assets.
