How probable is this, BTCUSD seems hugely overbought, with a weakness to the upside, I don't recommend shorting BTCUSD, that said this could be an incredible buying opportunity.
I feel the same way. According to my analysis there will be a huge pull back. As I am typing the comment the price is pretty close to touching 200 EMA. Seems to have taken a bit of support. But it seems like there will be a fall in the prices pretty soon.
wulrahmah
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@omeeishrak, happy to find some like-minded people, I feel like once the hype dies down, BTCUSD will be seen as any other currency, as of now BTCUSD is hugely overpriced. We could see a huge sell-off, as people panic sell.
omeeishrak
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@wulrahmah From the chart it already seems that some people have taken their profits in the yesterday's drop. Now once people start taking their profits in batches soon enough the price will fall. The price might increase again in future just like it did now after the big dip of reaching ~20K in the past. But as of now the price will drop soon enough, it's just a matter of time.