Market has been testing the $10,8k level the last 18 hours, and has yet to break through. It is clear that the market is wearing thin of it's bullish tendencies. It also follows my TA well that $10,8000 to $11,400 will be reversal territory.
In another FUD-induced scenario, we could expect BTC to fall to $5,000 - $4,600. Check yourself this weekend, as Monday/Tuesday will likely see some big price movements.
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UPDATE: After some further analysis, I am now confident we are at the end of Wave 1 of a new bull run for BTC. We will see a pullback this month, but likely to $7,000.
Order cancelled
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After new insights, I would recommend holding a long position until the $13,000 level.
Agreed.....Incoming drop....just need to push a little higher and then introduce some fake fud news...and we'll a quick deep dip down.
bosamfo
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thanks for the idea @AaronTucker
AlmightyKERK
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lousy
SilverStar_Trading
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I also agree with both of you guys. This is a simple retracement of the last drop. I believe alot of people had cash on the side and thought that was the last drop so are all going in heavy, right now FOMO is building and compounding, but the 4 hour, 6 hour and 12 hour StochRSI are all WAY overbought.
thombooo
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I agree... this is a bull trap! Won't break the bigger bear trend on the daily and weekly. Need to consolidate more before next leg up. I wouldn't buy here.
thombooo
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Here is my idea! :)
TheCryptoHacker
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@thomasnh88, yup, looks about the same as what I'm showing.