Why?
1) Moon boys on Youtube are at maximum annoyance levels. Euphoria is high, I have folks talking about BTC who never mentioned it before in their life.
2) Stochastic RSI is crossing down 80 on the above 1-=day chart following the overbought condition (green column).
Is this the end?
No - Bitcoin is in an uptrend. A strong bounce between $36-37k will mean a rally to around $60k as quick as that.
A collapse of support at $36-37k will mean an express elevator ride to $32k. If that fails.. $26k.
In summary risk / reward is very poor. There are better long positions elsewhere.
1) Moon boys on Youtube are at maximum annoyance levels. Euphoria is high, I have folks talking about BTC who never mentioned it before in their life.
2) Stochastic RSI is crossing down 80 on the above 1-=day chart following the overbought condition (green column).
Is this the end?
No - Bitcoin is in an uptrend. A strong bounce between $36-37k will mean a rally to around $60k as quick as that.
A collapse of support at $36-37k will mean an express elevator ride to $32k. If that fails.. $26k.
In summary risk / reward is very poor. There are better long positions elsewhere.
İşlem aktif
İşlem kapandı: hedefe ulaştı:
Kaboom.
Remember if $32k does not hold it is straight to $26k.
If $26k fails to hold it is straight to $19.5k (Most probable).
Remember if $32k does not hold it is straight to $26k.
If $26k fails to hold it is straight to $19.5k (Most probable).
Yorum:
$32k has failed to act as support as has RSI support in the top chart. That means $26k is next.
Yorum:
This move back up to $40k has fake out written all over it. The bulls are certainly tenacious. A 2nd opportunity to go short once the previous high is reached again. Only this time the pull back will be more violent than the first.
İşlem aktif:
Bulls make money, Bears make money, & pigs get slaughtered. If you listen carefully you can hear the squeals.
Yorum:
And back to $23k we go. RSI support has now failed. Price action could rebound to test as resistance. Assuming that does not happen price action will remain in a downward pattern until Mid-February.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR