BTCUSD Levels, Bearish divergence and still going Up?
I got in the office today and everyone is talking about BITCOIN. People who know nothing bought Bitcoin at such levels as they think it is something which always go up. So new money is definitely flowing into the market like anything. Next is big bang theory episode and millions of people are going to watch and just buy bitcoin as its a new thing which goes up until something pops up.
We are at 10k in no time. 10x is 10 months. People are still feeling euphoric and buying at such levels. Where is the support then? We actually haven't really corrected after we passed 3k , no correction was long enough. It was JUST BTFD and go up movements.
I SEE many bearish divergence throughout different time frames. in past they have worked out only few times tho with bitcoin. On the other hand we have a bull flag projection to atleast 10800 levels. This market could still go 10800 levels and not correct at 10k.
For me, it's just wait and watch right now. i am short at 9900 levels and will close at new ATH. I will short more at 1.1k if we go there pretty quickly but not longing at such levels and any small news could also give us 1-2k dip in no time.
We are at 10k in no time. 10x is 10 months. People are still feeling euphoric and buying at such levels. Where is the support then? We actually haven't really corrected after we passed 3k , no correction was long enough. It was JUST BTFD and go up movements.
I SEE many bearish divergence throughout different time frames. in past they have worked out only few times tho with bitcoin. On the other hand we have a bull flag projection to atleast 10800 levels. This market could still go 10800 levels and not correct at 10k.
For me, it's just wait and watch right now. i am short at 9900 levels and will close at new ATH. I will short more at 1.1k if we go there pretty quickly but not longing at such levels and any small news could also give us 1-2k dip in no time.