Bitcoin - short term green shoots, but...

Bitcoin - hammer time?

Bitcoin looks to be putting in a classical hammer candle so far today. This is just a short term candle indicating a possible short term bounce from current supports around these levels. Next support is at 42k and the bigger resistance is at 48k, the most recent reversal level. Bitcoin continues to lack a short term trend, so the mean reversion strategy continues to be the winner. Finally, note the 50 day crossing the 100 day...a longer term bullish cross in the making.