Is the Bitcoin Bounce For Real?
Frank on Market Insights | 
BITCOIN IS EXPERIENCING ITS BIGGEST GAIN SINCE MID JULY, BUT CAN WE TRUST IT? As many alt coins plummeted this past week, overall Crypto sentiment did, as well. Anyone who purchased his/her first coin in 2017 can attest to this feeling.
Bitcoin, itself, felt the pain, too, but unlike the other coins, it has respected its 2018 lows. Those lows, of course, came into play again this week in the form of support near 6,000. As a result, today’s gain is the biggest in four weeks. This stands out even more today with global equities and commodities aggressively lower across the board.
The last sizable advance from mid-July helped propel Bitcoin to that eventual 46% multi-week advance.
That’s encouraging, but as stated previously here, it means nothing until we see an upside breach of 7,000. Any rally that fails before that level still could make the last few weeks of price action turn into a bearish Head & Shoulders pattern.
