12h chart.
Bitcoin looks impulsive but ready for a pull back. Most indicators are overextended...we are testing the bottom of some important monthly candles. It wasn't long ago the 6k, 3k bears were out in full force...calling for three digit bitcoin and laughing at us permabulls. Nothing new under the sun in crypto--now here we are ~4x increase from the bottom and you can see the exact opposite in sentiment. Could we go straight to ATH's? Sure. I doubt it though.
Most market participants were too busy listening to the sentiment when we tested and broke down from 6k...they either chased when we rubberband snapped back above the supposedly unbreakable resistance or are just buying in to what I think will be an interim top now. I do think the next bubble is coming, but perhaps a nice trading range and/or some consolidation for a few months would help the market balance out and prepare for such.
Good luck, as always don't listen to me I'm just a larper. Unless of course the chart or substance of what i'm saying jives with you.
Bitcoin looks impulsive but ready for a pull back. Most indicators are overextended...we are testing the bottom of some important monthly candles. It wasn't long ago the 6k, 3k bears were out in full force...calling for three digit bitcoin and laughing at us permabulls. Nothing new under the sun in crypto--now here we are ~4x increase from the bottom and you can see the exact opposite in sentiment. Could we go straight to ATH's? Sure. I doubt it though.
Most market participants were too busy listening to the sentiment when we tested and broke down from 6k...they either chased when we rubberband snapped back above the supposedly unbreakable resistance or are just buying in to what I think will be an interim top now. I do think the next bubble is coming, but perhaps a nice trading range and/or some consolidation for a few months would help the market balance out and prepare for such.
Good luck, as always don't listen to me I'm just a larper. Unless of course the chart or substance of what i'm saying jives with you.
Yorum:
Looks like a :3 down, a :3 up, and now we should get a :5 down to complete the flat correction:
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