There are many bullish signs all over the market, however the price failed above 8k, just when we hit the 61.8% fibo retrace.
Yesterday whales move was genius, lots of shorters got liquidated, and most probably, people going long will get a headache from today. My take is that the big guys want to make the hodlers suffer even harder, give up and sell their shit for cheap, while they buy and get even more control on this space than they already have. If that happens I´m not seeing many ordinary people buying crypto due to the high risk involved, but the whales will fill their pockets with fresh bargain coins.
Seems that the worst is yet to come, this move looks very fast to confirm a trend reversal just now. If we go down, the way to the 6k will be painful with some rebounds, most probably we could see the first at around 7500 and many others below 7k.
Yes, is very difficult to figure out now what´s going next, but what I wont do, is to open a long position before the uptrend gets consolidated. Meanwhile I´m all in cash until the trend gets solid.
Good luck!