184 views
Hey, I am back with another Idea, this time looking at Bitcoin chart.
Bitcoin has been showing strong bull moves lately, but the current question is, was $12,000 the top?
If the price can stay in the uptrend, I think there may be new high, but when the price breaks down uptrend, drops below $11,000 and the RSI will fall below 40 . Bitcoin will go down or sideways for a while.
If the scenario is sideways, I recommend to live the alt season.
Good luck with trading!
Bitcoin has been showing strong bull moves lately, but the current question is, was $12,000 the top?
If the price can stay in the uptrend, I think there may be new high, but when the price breaks down uptrend, drops below $11,000 and the RSI will fall below 40 . Bitcoin will go down or sideways for a while.
If the scenario is sideways, I recommend to live the alt season.
Good luck with trading!
Comments
I think the current market sentiment is overextended. The drop in CME institutional trader net position last week also indicates 11k is overpriced for the short term. Even though the actions in the past week broke us out of the technical downtrend, we can’t shoot up in a straight line.
What do you think of the analysis below?