The surge in BTC this weekend has hit $9387 and has pulled back slightly. It may try to take another run at it to see if it can break higher. I find it very interesting that this new high just happens to be very close to the 61.8% Fib retracement of $9429 (within $42). This may act as resistance for now and I would be surprised if it can break through this barrier so easily. If it can't stay above $8138 then today's bull run may be over for now.
Watching BTC take off like it has for the past 3 days is like watching a new Boeing 737 Max take off from a runway and fly effortlessly at a 60 degree angle. It keeps going up and up and up. Eventually it will get into the thinner air and will have to fall back several thousand feet so it can stabilize. I could be wrong, but I doubt we will see another day or two of these stratospheric highs without a pullback of at least $500 to $1000. That is just my opinion. Do not use my opinion to buy or trade cryptos.
And I kept another one short.
Watching BTC take off like it has for the past 3 days is like watching a new Boeing 737 Max take off from a runway and fly effortlessly at a 60 degree angle. It keeps going up and up and up. Eventually it will get into the thinner air and will have to fall back several thousand feet so it can stabilize. I could be wrong, but I doubt we will see another day or two of these stratospheric highs without a pullback of at least $500 to $1000. That is just my opinion. Do not use my opinion to buy or trade cryptos.
And I kept another one short.
