Twitter Handle Caleb Franzen expressed:  The fact that Bitcoin has been able to remain over $60,000 since Friday morning is a massive win for bulls. When I look at the price chart, I see price coiling along the 55 EMA on 1hr candles. This “magnet and rebound” dynamic is encouraging, possibly setting up for another leg.

For clarity, a leg is one piece of a multi-part trade, often a derivatives trading strategy, in which a trader combines multiple options or futures contracts, or—in rarer cases—combinations of both types of contract, to hedge a position, to benefit from arbitrage, or to profit from a spread widening or tightening.

Leg up is the term used in the context of general equities, where you have a portion of the offsetting side of a trade in your pocket spoken for.  So your capital risk in the transaction is reduced.

Bitcoin dips below the 55 EMA on 1hr candles, but immediately rips higher. It bottomed at $58.9k but has now accelerated back to $61.2k. Probably squeezed out some small leveraged longs, which is a good sign. Less leverage, the less likely we see cascading selling pressure.

For clarity, selling pressure occurs when the majority of the traders are selling, indicating that the majority think the market price will decrease.

Told you it was a good sign.  Price just hit $62.3k after we just completed the highest weekly close EVER. This week is about to be crazy and no one is really prepared.

Per Magnet and rebound dynamic, Magnets tell you the likely destination, but not the path, and there may be big pullbacks along the way.  Many times, the market might be in a trading range for dozens of bars, but within striking distance of a magnet. If the market is trending down, most support levels will fail to hold or reverse the market.

Community Response:  Bitcoin has printed a bullish pattern with just two or three resistances in front of it, indicating that a rise is likely in the following 10 days. I believe the price will stop around 60k and drop to 56k before rising to 62k and retracing to 58k, where it will be free to surpass the previous all-time high.

There are lots of ways to earn money, but right now crypto trading is actually the most profitable.

Investing in crypto is all about buying coins and holding, till it rises, come on it takes much analysis to be a successful*crypto trader.