639: BITCOIN REBOUNDS BUT WARNINGS OF ANOTHER BTC PRICE PLUNGE ARE EVERYWHERE!! IS S2F MODEL STILL VALID?
Bitcoin continued its bounce from its 2021 opening price on Wednesday, hitting $31,600 in what some fear is just a temporary reprieve from the downside.
BTC Bulls had successfully defended the largest cryptocurrency against further losses at just above $29,000 - the price at which the market began the year, however, concern is running high over current strength being a “relief rally” - not a true comeback after a price floor.
“It’s still ‘short the bounce’ season,” popular analyst and podcast host Nebraskan Gooner summarized to Twitter followers and veteran trader Peter Brandt concurred, suggesting that Bitcoin would need another shock leg down before the genuine return to form kicked in.
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