There is a bullish divergence on the BTC chart. Also close to the 38.2% level. So, the overall trend is bullish.
Note
The idea is still valid. There might be some wicks to the downside. Bitcoin will then go sideways. The bullish divergence also exists in the 4 hourly. Highly probable that we reach about 51k level the 23.6 fib of the whole move. In this time 2-3 weeks etherium and alts would perform better.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.