BTC had an excellent run for the last few months. Since breaking down from the upward channel, BTC has made a swift and bold recovery. But, in doing so looking fairly toppish at the moment. RSI is hot and looking to cool down. It doesn't mean it is going downhill tomorrow. The previous channel top and the bottom support of the recent recovery has created an upward broadening wedge and this pattern can play out for a bit longer. In my opinion, this could be the opportunity to take profits and wait for a better entry go get more BTC . Mid January is usually a good time to reload. This idea could be a possible path that could confirm a better reload area. However, if the correction happens in time rather than in price, then better entry would be break in the upward channel for even a more parabolic run; which may not stop until 40k- 45k. In any case, this time around, the moves are happening in a structured manner, so directions will provide plenty of time to plan. Happy Holidays!!!
BTC had an excellent run for the last few months. Since breaking down from the upward channel, BTC has made a swift and bold recovery. But, in doing so looking fairly toppish at the moment. RSI is hot and looking to cool down. It doesn't mean it is going downhill tomorrow. The previous channel top and the bottom support of the recent recovery has created an upward broadening wedge and this pattern can play out for a bit longer. In my opinion, this could be the opportunity to take profits and wait for a better entry go get more BTC . Mid January is usually a good time to reload. This idea could be a possible path that could confirm a better reload area. However, if the correction happens in time rather than in price, then better entry would be break in the upward channel for even a more parabolic run; which may not stop until 40k- 45k. In any case, this time around, the moves are happening in a structured manner, so directions will provide plenty of time to plan. Happy Holidays!!!
