Look at the RSI and MACD indicators. Look at the history. Now look back again the current deviation of these indicators and how far is the current price of the 21 MA, RSI and MCAD averages.
I think the bitcoin is in mainstream media and that is the only reason for the high prices these days. The facts however are the bitcoin is overpriced.
The greater resistance has bitcoin on these indicators the greater the elastic effect will be in the opposite direction.
I believe it is time for shorting the bitcoin. Think we will be lucky of we get the bear trend again back at 7700 eur per bitcoin. Think the greater the swing is the more chance we have to reverse the strong bullish trend.
I think the bitcoin is in mainstream media and that is the only reason for the high prices these days. The facts however are the bitcoin is overpriced.
The greater resistance has bitcoin on these indicators the greater the elastic effect will be in the opposite direction.
I believe it is time for shorting the bitcoin. Think we will be lucky of we get the bear trend again back at 7700 eur per bitcoin. Think the greater the swing is the more chance we have to reverse the strong bullish trend.