one of the strongest reasons that i also have to believe that price will NOT go below $6k and we may be seeing a proper reversal right now is the fact that we have seen this price tested 3 times and it had held and did that strongly.
and more importantly there is a strong psychological buy support level is being shaped up there that is making that price even harder to break into.
and i keep seeing more and more analysis Technical and Fundamental saying that it is the bottom. and as more people get behind these analysis that support becomes even stronger.
at this point i am only worried about the FOMO buyers. the same people who for the past weeks have been saying how bitcoin should go lower and the bear market to continue. they repeated it enough times to believe in it and not buy back so now with this rise we are going to see their FOMO buying signs like these but bigger:
There is no support that cant be broken.
Look how strong 12k support was. Strong rebounce each time price touch 12k. 4 times in a row. Then price broke 12k and immediately return above 12k - stoploses atack - 12k support confirmation - spring in acumulation process from wyckoff chart etc.... Yea we all know where price is now. It is possible that the same topic will be created after 1 year on strong 3k support.
Dont get me wrong. I hold bitcoin and ill hold it on 3k, 1k or 100k. But after few years with crypto i stoped to get to excited about TA, supports, indicators. Because when something looks like in TA book for sure its whales trap.
In my opinion volumen is too weak. We can bounce to 8k, than return to 6k or even 5k again, than after few weeks we will end bear market - but thats from TA - as I said i dont trust it that much especialy in crypto market and bitcoin market small enought to be pumped by 1 investor up to 10-20% in 1 h
