Bitcoin Analysis 4/21/22 Part 2 (High-level Bull Run Analysis)

BTCUSDT Perpetual Contract BYBIT:BTCUSDT

NeutronMan

Bitcoin has been trading within this ascending channel for the majority of this Bull Run. Ascending Channels with decreasing volume is usually bearish . Looking at the RSI , the RSI is starting to stay below the 50 level which is Bearish . With the interest rate hike starting next month, I don’t believe it’s realistic to be extremely bullish right now unless if a bunch of Defi projects start buying Bitcoin to back their stablecoins.

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