Buying now for short-term profit seems a bit risky.
The bulls might seem strong, but a correction is overdue after a month that has delivered 2k+ profit per BTC.
Beware of a false breakout like the 2 other times.
Trading Giant Bitfinex has been driving the price up these last days... You might answer it's just a "risk premium", yeah sure, but we all know things are shady out there. Just been excluded from CMC Bitcoin price calculation and it's better like that.
Well, we got a peak right now, as I write... Just broke through the 5.8k level on Coinbase and 6.2k level on Bitfinex with decent volume.
Watch out!
Comment
⋅
Big rising wedge on the 4H chart as well:
Comment
⋅
1 day later: the wedge is playing out perfectly. Bitcoin got rejected above 5.9k at the upper bound of the wedges (both on the 1H chart and on the 4H chart posted just above in comment) and then came back to bounce off the lower part.
Let's see how these bearish wedges play in the next following days.