After Thursday’s brutal crash and the follow-up wick on Friday morning, Bitcoin investor sentiment is down in the dumps; many believe there are few reasons to be bullish on the short-term to long-term prospects of the leading cryptocurrency.<\/p>\n
While this was seemingly true when BTC traded as low as $3,800, analysts are saying that the bull case for the asset, at least for the short-term, is rapidly building.<\/p>\n
Trader CJ remarked<\/a> that there are more reasons to be bullish on Bitcoin than bearish, noting the cryptocurrency has started to trade above a “swing low pivot,” diagonal support that has supported the price since the flash bottom, the 0.75 level of the range, while prices consolidate below resistance.<\/p>\n Few things to consider as a move progresses. What are the bullish\/bearish technicals? May help position you better before you pull the trigger i.e. start losing bullish points and well, maybe don't long. I am leaning bullish here, as per the points at the moment. pic.twitter.com\/CCmsLzcl2p<\/a><\/p>\n — CJ (@CJ900X) March 14, 2020<\/a><\/p><\/blockquote>\n\n