Somehow I am still not convinced with this article. Is this not a thinking like that of a sheep in the market? Just because the price in the short term is rising does not mean bitcoin is breaking out in the medium term. Buying now with the high volatility is bad because it can also be going in the opposite direction. I am not as optimistic.
While volatility is still a strong element in bitcoin markets, traders are now pushing for higher prices amid a wave of apparent buying pressure. BTC/USD rates peaked above $1050 levels through today’s trading session with the market showing potential to overcome such levels. Buying pressure seems to be outrunning resistance as the market’s sentiment might be going through a positive overturn.
Major Signals
With bitcoin rates peaking above $1050 following several negative trading sessions, the price rise might be a positive break away from bearishness
Large buy orders pushed the price up several times throughout the day while $1050 seems like a feasible target again in spite of volatility
In so far, the market’s sentiment is notably more positive than what it was through percending trading sessions
Read the full article https://www.crypto-news.net/bitcoin-price-rebounds-above-1050/the author has been correct so far -the price has broken through 1100$ mark,the bull trend is obvious
there is no way to tell if this is a short term trend or it will be rising in the medium term as well,but buying pressure is obviously outrunning selling orders
and today we may see even 1150$ mark
as for the hard fork fears,people realised that it is not happening any time soon,at least not before the May convention
so there is no additional negative pressure applied
