Bitcoin made huge move from 29k drop. All indicators shown as overbought-fomo at the moment. RSI turned "Bearish Divergence" on Daily
Here is the close up on my logaritmic chart. It looked like it retested "Main Uptrend" line that comes from 2020 March Drop. Also got rejected on "Main Downtrend" from 65K. 29K was great spot to get in because of accumilation range.
But now just don't fomo. It's not the time. It's time to take profits.
Also we almost got rejected from MA200 in 1D chart.
Looked like real deadcat bounce to me.
Remember "IF" it goes up, you can always buy back at almost same price when it breaks trendline+ma200's retest.
Here is the close up on my logaritmic chart. It looked like it retested "Main Uptrend" line that comes from 2020 March Drop. Also got rejected on "Main Downtrend" from 65K. 29K was great spot to get in because of accumilation range.
But now just don't fomo. It's not the time. It's time to take profits.
Also we almost got rejected from MA200 in 1D chart.
Looked like real deadcat bounce to me.
Remember "IF" it goes up, you can always buy back at almost same price when it breaks trendline+ma200's retest.
Barbarians Trading