Bitcoin has dropped from $69k to $20k and now bitcoin is only up to $22k. People have started saying that the downtrend is over and the uptrend is coming. Many people have mistakenly thought and will pay a very heavy price if they are not sober at this time.
I will not be convinced that the worst is over and that the bottom is at 17K unless we return to levels above $32,000, which has been a strong resistance level for a long time, any level lower than that means we are below 20K.
The recent rise will not be positive unless it breaks 23800 and the price continues to rise to break 28k dollars.
Unless we break through the $30k resistance, we have every right to believe the worst of the bear season has passed, and everyone can think of something brighter.
Bitcoin is trading at $23k and it could still drop back below $20k anytime, the gap is not too far away.