Some people were speculating at the weekend that the bear trap was almost over and a bull market was just about to start. Analysing the graph below I can appreciate why they may have reached that conclusion.
However, despite the fact that Bitcoin hit a new recent high of $69,500 earlier today it has since pulled back again and is down 2.3%, with it currently trading at $67,000.
This pattern is persisting and overall the Bitcoin movements we are witnessing are very positive. There is clearly a strength being locked in and gains are being made. Take a look at the monthly trading chart and you will see what I mean.
Bitcoin is continuing its vertical trajectory. Overall this is a solid performance from Bitcoin. And if you take a look at the Bitcoin sentiment you can see that the Bullish pull keeps on gaining momentum.
All in all things are looking pretty encouraging in the cryptosphere. Come on altcoin season, you can do it!
Peace!