I've been watching the developement of Bitcoin. For me personally it's overbought and will probably get rejected at the next fib line. If it happens to break the fib line, I expect a rejection at the next. If we look at the weekly chart, this rise seems too parabolic. So I will sell/short Bitcoin around the red area and buy/long around the green.
BTC seems to have lost its steam at the top here and I am expecting it to come down to its original level again before making another run for it.
Look at my last post to see my expectation for upcoming week.
Low price on point A, elevated volume, is confirmed by reviewing stochastic RSI where we can see stock is over sold, and this will create variation on pattern and add volatility .
Same case works for point B, with a higher variation on price, and lower volume, but volatility is created, and stock is oversold.
Point C, has a price increase, which confirms ...
I belive that when it will hit the blue line . It will go down, slowly
It will slowly going down until it hits the yellow ring.
If it manages to hit the cross lines between yellow and white. Definitely will drop much harder .
We will enter a last bear market until June it's over.
This is only my opinion and you are free to decide what to do with your money and...