It's true I didn't expect this ponzi pump scheme from all the tether FUD. I WAS WRONG. But this move exceeds all rational explanation. It disregards TA completely, so the answers now are NOT in the charts. Something else fundamental is going on. However looking at the TA we can see we hit the macro 23.6 fib retracement level. We are bearishly diverging, and we are overbought on the RSI, and MFI for over a month. This cookie looks like a INCREDIBLE sell. Too bad I already sold at around 5k (my break even for bitcoin 2018 bear market) Where we go from here? It always the manipulators to decide. But looking at the 8k recent swing high we got the basic 78.6 % retracement level coinciding with the 23.6 level. Maybe this is the top? I hope so, cuz I'm not interested in buying bitcoin at these levels. I bought my first bitcoin at 240 and this just looks like a greedy and scammy price to be asking a few years later.
I strongly believe that We will get at least one more time to buy bitcoin below $5000 before the next bull season! Let's see how it goes!
Jeff_Cryptopop
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Yeah, it's gambling at this point. No rhyme or reason except fomo caused by a little short squeeze. The fun part is seeing what happens when bulls tire of buying, which seems could be sooner than later. There's no support at 5800-6000 anymore. There might be a bounce at 5500 but it's not a strong. This little rally hasn't retraced to confirm any supports so.....freefall back to 4000 then some? It will certainly be a kick in the gut for many when the bill comes due.
AlanSantana
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@Jeff_Cryptopop, Not really... Bitcoin continues strong and is just getting stronger... Maybe some strong fundamentals driving the growth behind the scenes.