In the recent rebound of Bitcoin, well-known trader Skew expressed cautious optimism about the current trend, stating that the market seems to lean bullish. He posted on X, "So far, this rebound has been working here, with prices retesting the systemic trend, climbing from $68,000 to $108,000."
He pointed out that there is a "clear" bullish divergence on the 4-hour chart's Relative Strength Index (RSI) and described the failed attempts to push down BTC/USD as a "failed auction."
Keith Alan, co-founder of Material Indicators, noted that Bitcoin's price is still caught between two key Simple Moving Averages (SMA), with the 21-day SMA (approximately $99,600) and the 50-day SMA (close to $94,650) now defining BTC's immediate range. Alan is uncertain which level will break first and noted that since mid-October, Bitcoin has maintained support above the 21-day SMA, briefly dipping below this level this week.
Cryptocurrency investor Satoshi Stacker stated that due to the U.S. traditional financial markets being closed for the holiday, the Bitcoin market will temporarily alleviate selling pressure.

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Odaily Planet Daily reports that during the recent Bitcoin rebound, well-known trader Skew expressed cautious optimism about the current trend, stating that the market seems to lean bullish. He posted on X: "So far, this rebound has taken effect here, with prices retesting the systemic trend, climbing from $68,000 to $108,000." He noted a "clear" bullish divergence in the relative strength index (RSI) on the 4-hour chart, describing the failed attempts to push down BTC/USD as a "failed auction." Keith Alan, co-founder of Material Indicators, pointed out that Bitcoin's price is still sandwiched between two key simple moving averages (SMA), with the 21-day SMA (approximately $99,600) and the 50-day SMA (close to $94,650) now defining BTC's immediate range. Alan is uncertain which level will break first and noted that since mid-October, Bitcoin has maintained support above the 21-day SMA, briefly dipping below this level this week. Cryptocurrency investor Satoshi Stacker mentioned that due to the closure of the U.S. traditional financial markets for the holiday, the Bitcoin market will temporarily alleviate selling pressure.

Trader Skew: Cautiously optimistic about the current BTC rebound trend, the market seems to lean bullish.