Abstract：BTC price action focuses on $50,000 with Bitcoin sentiment gaining confidence.
The first breakthrough has happened on Bitcoin. But, we still need to break enough levels to state that we're bullish, Cointelegraph contributor Michaël van de Poppe declared overnight.“Overall, a breakthrough at $50.5-51.5K and I'm convinced. Also, 2022 should become a great year overall.”
Well look what we have here ladies and gentlemen.
Our first green BAR has appeared!
Now we need to make sure this potential reversal doesn't confirm. If the next bar does not confirm the reversal, then we should continue the breakout of the descending triangle ✅ https://t.co/MrbkrAqyXh pic.twitter.com/OliTqKrafx— John Wick (@ZeroHedge_) December 21, 2021
“Rallies start when least expected/when tired bulls give up,” he summarized.
MACD involves the relationship between two expONEntial moving averages on BTC/USD, and a rebound from a downtrend has preceded price run-ups.INDEX almost doubles
In more encouraging signs for investors, altcoins began posting more significant daily gains through Wednesday.
Ether (ETH), the largest altcoin by market cap, maintained $4,000, while standout Terra (LUNA) was up 16% at the time of writing.
Ripple's XRP token traded up 9%, with none of the top ten cryptocurrencies by market cap in the red.
“If I'd want to position myself well, I'd want to buy into crypto at this stage,” Van de Poppe added.“The sentiment is still not the BEST, while many altcoins are down a lot, some even 80% since their ATH. The adoption is even growing and price-wise, those coins are in heavy support zones.”
The Crypto FEAR & Greed Index saw a significant uptick overnight, jumping from 27 to 45 but still characterizing the market as being in “fear” mode.
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