You might be a Bitcoin believer or not but you can't deny the fact that these days $BTC bull run was mostly (if not completely) manipulated.
Let's face it. Interest on bitcoin (especially within the media) was gone. New fuel (new "investors" joining) were less and less. Overall prices were going down slowly with huge amounts of long "bets" posted at irrational price levels (19k$ for example).
The only possibility for those people that invested by the mantra of "buying the dip" at every single drop of price since Dec 2017 was to have a sort of bull run kicked off in order to be able to liquidate some if not all of their irrational positions acquired during the bear market of cryptocurrencies.
The last few days we have seen a parabolic advance curve forming on the common BTC/USD cross. Volumes picked up and the price jumped from 5k to 7k and more.
Now what? well, this market NEEDS a pullback. RSI shows overbought signs in almost all time spans. Be careful....a drop is coming and it's going to be a huge one in my opinion.
***AS usual, not an investment advice, merely my opinion for informational and educational purposes only***
Let's face it. Interest on bitcoin (especially within the media) was gone. New fuel (new "investors" joining) were less and less. Overall prices were going down slowly with huge amounts of long "bets" posted at irrational price levels (19k$ for example).
The only possibility for those people that invested by the mantra of "buying the dip" at every single drop of price since Dec 2017 was to have a sort of bull run kicked off in order to be able to liquidate some if not all of their irrational positions acquired during the bear market of cryptocurrencies.
The last few days we have seen a parabolic advance curve forming on the common BTC/USD cross. Volumes picked up and the price jumped from 5k to 7k and more.
Now what? well, this market NEEDS a pullback. RSI shows overbought signs in almost all time spans. Be careful....a drop is coming and it's going to be a huge one in my opinion.
***AS usual, not an investment advice, merely my opinion for informational and educational purposes only***
Comment:
Fun thing is...while I was typing this the selloff was starting