"Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways."
-Bob Farrell's 10 Rules
The massive amount of FOMO during this logarithmic growth, coupled with the extremely bullish sentiment is a recipe for a sharp fall just like late 2017.
BTCUSD has run its course but now shown signs of weakness at the top, we now have lower highs, and lower lows, lack of further momentum indicates the uptrend is at an end. As confirmation of this, we can see the price has breached the Ichimoku cloud and started a new downtrend, as further confirmation we have a bearish crossover at the MACD (MACD crossing below the signal line).
I'm a long term bullish BTCUSD believer, but this short term uptrend was pushed by greedy FOMO and lacked solid growth, the time for a sharp reversal is coming.
-Bob Farrell's 10 Rules
The massive amount of FOMO during this logarithmic growth, coupled with the extremely bullish sentiment is a recipe for a sharp fall just like late 2017.
BTCUSD has run its course but now shown signs of weakness at the top, we now have lower highs, and lower lows, lack of further momentum indicates the uptrend is at an end. As confirmation of this, we can see the price has breached the Ichimoku cloud and started a new downtrend, as further confirmation we have a bearish crossover at the MACD (MACD crossing below the signal line).
I'm a long term bullish BTCUSD believer, but this short term uptrend was pushed by greedy FOMO and lacked solid growth, the time for a sharp reversal is coming.