BTC continues its own rally without a major retracement. That constant ascending channel scenario is the same behaviour we had from October until December of last year. These kinds of movements allow the price to move up without creating major bear divergences, which is a very good and “healthy” sign.
During last week, BTC had a nice run and even surpassed the first level without any problem. That tends to be a sign of bullishness but after that, it needs to cool down a bit to probably continue the trend if there is not any Black swan around.
For the last few weeks, BTC has been in a downtrend. For the moment, it can still be considered a retest of the main GP (golden pocket/yellow box) as well as the last descending channel or MA20W
The “first-day pop” or “IPO pop” is one of the more commonly cited IPO success measures and indicators of market health in traditional securities markets.
