We have reached a possible top - either explosion from here that will move into 100k or the steam has been let out and 33060 is the top. MT4 Fib expansion gives exactly 33060 as the FE 161.8 level. Here in TV the level is shown as 27372 for some reason. Also Maybe multiple has reached 2.40, see the chart - previous time when this happened there was a significant pullback. If it goes above 2.40 then the market is in bubble mode and no analysis will provide any accurate results.
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Mayer multiple currently at 2.40 exactly, while the surge has relaxed.
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For now the level holds, Mayer multiple has fallen to 2.36, BTC fell 3000 dollars in 40minutes, that's 10%!
Trade closed: stop reached
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StopLoss. Level broken
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Mayer multiple again fell below 2.40, keep an eye on this level and MM.
I've seen so many charts saying similar things when btc was heading towards 20k, 24k, 28k, and 30k. so far none have been even close to being correct. I am not speaking against chart analysis, I'm just wondering if there's honestly a point to trying with btc?
Overkilla
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@Mezmon2, that's true. It is not a regular financial asset that would adhere to any rules or waves, because of that it is quite difficult to predict anything. All the charts and analysis could give some hints where the top could be.