Bitcoin put in a classic technical reversal yesterday
The news that he People's Bank of China is actively discouraging crypto investments sent BTCUSD down through $30,000. However, the daily close showed a classic pin bar reversal.
- The close was bullish
- Space to the right (lots of empty spcae)
- Opens up a test of $40,000
BTC can be a very technical market at times.
Here is my interview with Bloomberg talking about Bitcoin yesterday and how important the daily close was going to be.
The video is in Arabic.