Djaysmallz

BTCEUR breaking out or heavy pullback?

COINBASE:BTCEUR   Bitcoin / Euro
Right now you cant really rely on indicators because its again very volatile. 4hr chart looks good but overbought bigtime. Daily seems ok so far, stoch rsi nice at 55.
What you think, breakout or breakdown?

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There is also a large hammer pin on the weekly which means there is a pretty high probability of a breakout.
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@Zapece, True, and at this moment the 4hr pattern is stil nice within the triangle upwards. Notice that stoch rsi is overbought but macd going up :/
Also weekend is starting again so i expect a whole lot of crazy moves.
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I have been monitoring pretty closely. I am tending towards breakout. The overall trend is still up that hasn't changed. Americans are getting stimulus checks so that money will partially go into Bitcoin and stocks. Option expiry is on March 26th and seems to favor a bullish stance at the moment. Also a typical breakdown looks like the daily chart on the dates 8th of Jan and 14th of Jan a high then a lower high then a break down. I don't see that happening here. The latest price actions is starting to look more like a bull flag than a breakdown.
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@Zapece, Thanks for your thoughts ;)
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I think we are heading toward s a nice breakout over 52000
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Djaysmallz kerimbasa
@kerimbasa, If we pump target is around 67k usd i think, after that a firm and quick retracement im afraid. Well, in long term its good for the health of btc anyway. Only hope i will catch selling the top before this happends.
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Djaysmallz kerimbasa
@kerimbasa, At this moment i think as well but still sceptic ;)
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depends how fast we move up, with stimulus cheques it might happen faster
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Djaysmallz chungdha
@chungdha, Its a tricky situation right now ;)
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Djaysmallz chungdha
@chungdha, Yeh lets wait and see ;)
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