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

Odaily report: In the recent Bitcoin rebound, the well-known trader Skew expressed cautious optimism about the current trend, saying that the market seems to be bullish. He posted on that "so far this rebound has been in play, the price has retested the systemic trend, rallying from $68,000 to $108,000." He pointed out that the Relative Strength Index (RSI) on the 4-hour chart showed "a clear" bullish divergence, and described the failed attempt to push BTC/USD lower as a "failed auction". Material Indicators co-founder Keith Alan pointed out that the Bitcoin price is still sandwiched between two key Simple Moving Averages (SMA), the 21-day SMA (around $99,600) and the 50-day SMA (close to $94,650), which now define the immediate range of BTC. Alan is uncertain which level will break first, and noted that Bitcoin has been holding above the 21-day SMA support since mid-October, briefly dipping below that level this week. Crypto investor Satoshi Stacker said that due to the holiday market closure of traditional US financial markets, the Bitcoin market will temporarily ease selling pressure.