Bitcoin - At Least A Temporary Reversal Bitcoin / US DollarCOINBASE:BTCUSDVictorCobraShort post. Very rare is it that I make a "long" setup for Bitcoin, but here it is. Bitcoin is trying to find support at some moving averages, which shows that some tentative confidence is returning. Volume off the recent lows seems to back up the possibility that there is enough demand in this area to support price...for the time being. A major hurdle exists at the 4H 200 MA (teal) between $72-73K. Wouldn't be surprised to see those prices tomorrow or this weekend if stocks stay relatively stable and up. If price can sustain above there, perhaps a venture back towards $86-87K is possible. Even then, the longer term trend can remain bearish. Unless Bitcoin breaks and holds above $100K, it is unlikely to inspire longer term buyer confidence at this point in its history, I think. On the downside, next major support would be in the $57-58K range. Below that....and all bets are off for any sort of bullish continuation for this asset. It really should hold the line here to remain relevant at all. And all it really has going for it is "number go up" at this point anyway. I think it's possible Bitcoin is seeing the beginning of a "number go down" era where shorts become the name of the game with this asset. But, selfishly I'd like Bitcoin to hold the line here so I can somehow profit from my Litecoin trade. Alas, not everything works out. I'm going to make another more long term post about Bitcoin soon, referencing at least one of ridiculous early charts from when I first got into trading crypto back in 2017/2018. As always, this is not meant as financial advice, but for speculative purposes only!