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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

Bitcoin analyst Cheds believes that traders who were bearish on Bitcoin are changing their stance due to its recent bounce. He points out that Bitcoin's recovery after dropping below $90,000 indicates a strong uptrend. Cheds identifies a high wave doji candlestick and a W double bottom pattern, both suggesting bullish trends and a new uptrend. With Bitcoin now trading above $96,000, Cheds predicts that those who predicted more downside for Bitcoin will switch to a bullish stance. However, he also notes that bears will eventually have their moment, but it is not yet time for them to dominate Bitcoin's trend.

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