I see a lot of comments at the moment regarding pullback or retest.
'Ooh it's rising too steep, it's gonna crash!'.
'It hasn't pulled back, it won't go much higher'.
So here is a quick comparison from 2017 on the left and current price on the right.
in 2016-17 we saw an increase from 600 to 1200 with a pullback to 750
Then up to 1300 and another pullback to 900.
However, after that the price doubled to 1850 with only a small pullback before rocketing up a very steep curve to 2700 before a larger pullback.
Please keep this in mind when trying to catch the top shorting this.
If a similar pattern happened now, the pullback to 6600 could hit 12000 before another retest.
'Ooh it's rising too steep, it's gonna crash!'.
'It hasn't pulled back, it won't go much higher'.
So here is a quick comparison from 2017 on the left and current price on the right.
in 2016-17 we saw an increase from 600 to 1200 with a pullback to 750
Then up to 1300 and another pullback to 900.
However, after that the price doubled to 1850 with only a small pullback before rocketing up a very steep curve to 2700 before a larger pullback.
Please keep this in mind when trying to catch the top shorting this.
If a similar pattern happened now, the pullback to 6600 could hit 12000 before another retest.