BTCUSD - The one that keeps getting away!
But can it get away when it's at the end of the road? Probably not.
BTC has surpassed everyone's expectations when it comes to price in the last month but it's getting dangerously close to the end of the curve it followed for most of the year.
RSI too is approaching dangerous levels on both daily and weekly time frames.
All this suggests that the upside in the short term is limited. We may see a push to 15k and then a quick correction to 9k or a bigger one to 5k. But given the nature of this beast, that seems unlikely.
I am not shorting it but waiting for a dip to buy as the past has shown that it can go much higher without correction.
And as always, do your own analysis to confirm and then trade accordingly.
- ICEFROG
BTC has surpassed everyone's expectations when it comes to price in the last month but it's getting dangerously close to the end of the curve it followed for most of the year.
RSI too is approaching dangerous levels on both daily and weekly time frames.
All this suggests that the upside in the short term is limited. We may see a push to 15k and then a quick correction to 9k or a bigger one to 5k. But given the nature of this beast, that seems unlikely.
I am not shorting it but waiting for a dip to buy as the past has shown that it can go much higher without correction.
And as always, do your own analysis to confirm and then trade accordingly.
- ICEFROG
Trade active
BTC hit the arc perfectly and immediately pulled back, indicating strong resistance.
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