Bitcoin bounce is bullish ahead
Market looks bullish in this chart. We bounced off the 300USD/1900CNY level. Market has been trading at higher levels, but also held there. Past bounces during this bear trend has sold off relatively quickly. It used to starts off bouncing off support quickly, rally some followed by quick dumps. Is it different this time? Chart pattern definitely looks better than before. I covered my shorts and went long yesterday.
Both usd and btc swaps are increasing. Generally, they go in opposite directions since they are literally betting against each other. In the following case, only one scenario will play out.
One side of the bet is wrong, which will help push the prices further in one direction. I am inclined to say up because charts say so, but I honestly don't know.