Might want to be cautious here
If you look at each rally from trough to peak and the resulting correction you can see most pullbacks correct back down to the fib 1.618 retracement level. This move may continue to $4 who knows? It's good news, but I'm not convinced BTC has found a floor as it has now arrived at a critical point. ANY is oversold...yes it could continue higher. The question is IF there's a new floor in BTC and if so will it hold? OR... is this just a bear market relief rally before BTC reverses at or near 43,063 before continuing the next leg lower towards 20K? Maybe best to wait for a confirmation signal, just my opinion. Look at the past volume indicators. Based on volume, it looks like this move is mostly short covering compared to historical volume patterns. The June 01 rally and September rally blow-off top were on larger volume than the existing rally and with the news, and that to me is not convincing information....Good luck,
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