Well, as many of you knew the famous indicators & oscillators such as MACD, RSI, Stochastic, etc are all in overbought area. There is no reasons to continue analysing Bitcoin by them.
Why not we back to the basic, technical analysis lesson 1 - trend line analysis.
I connected the top & bottom of the bars to see if any lines are valid (if the lines have been touched over 3 times more)
Let's see the parallel orange lines, the current price of this post is 16620, which is very close to the upper orange line.
Although the peak is most likely 22000 in this log chart, you are trading in the extension of this rising phrase if you rush into this market right now. My advice for you is manage your risk properly.
To all bitcoin traders, enjoy your best ever Christmas this year. Protect your profit !!!
Why not we back to the basic, technical analysis lesson 1 - trend line analysis.
I connected the top & bottom of the bars to see if any lines are valid (if the lines have been touched over 3 times more)
Let's see the parallel orange lines, the current price of this post is 16620, which is very close to the upper orange line.
Although the peak is most likely 22000 in this log chart, you are trading in the extension of this rising phrase if you rush into this market right now. My advice for you is manage your risk properly.
To all bitcoin traders, enjoy your best ever Christmas this year. Protect your profit !!!
