# Not in Bubble....!!!
Newbies... BEWARE - stay out of this madness, looks strong, but it is moving on smoke in my opinion and simply being traded up on low volume
How can you tell?
Well... large orders requiring many millions of $$ take time to fill which leaves footprints on the market
This represents itself as areas of consolidation for a few days or weeks or pauses in a rally, these areas also provide useful levels to trade off on the way back down....
What the problem with this chart?
Well, it is moving parabolic with no pauses... which suggests to me that there is:
a) Lack of interest from real 'big money' investors as they do not chase prices higher.... and
b) Were it to correct, there is very little support below it due to point a bove
I would caution anybody considering trading Bitcoin at present levels to be very very careful, as parabolic trends are driven my emotion - not logic and rarely if ever turn out well
Or if you do, have an exit strategy - to save your shirt!!
Newbies... BEWARE - stay out of this madness, looks strong, but it is moving on smoke in my opinion and simply being traded up on low volume
How can you tell?
Well... large orders requiring many millions of $$ take time to fill which leaves footprints on the market
This represents itself as areas of consolidation for a few days or weeks or pauses in a rally, these areas also provide useful levels to trade off on the way back down....
What the problem with this chart?
Well, it is moving parabolic with no pauses... which suggests to me that there is:
a) Lack of interest from real 'big money' investors as they do not chase prices higher.... and
b) Were it to correct, there is very little support below it due to point a bove
I would caution anybody considering trading Bitcoin at present levels to be very very careful, as parabolic trends are driven my emotion - not logic and rarely if ever turn out well
Or if you do, have an exit strategy - to save your shirt!!
Comment:
As I said above at 17000, bottomed out at ~6000