BTC is again setting new highs, so i took a closer look where we might reverse for a correction. I have strong believes that we could come very close to a 3.0 fib extension level (~
52K), then wave in that region for a very short period of time, then do at least 40-50% correction from there.While a am not a fan of short selling anything in such bullish market, for those that do, now its probably the time to do it and buy back in after a deep. The problem really is that no one actually knows how deep this correction will be. I have therefore showed, what i believe is an area to be reached when correction is over. This is a 1.618 fib. level that has to be looked after.
I am not a financial advisor so don't buy anything that i say. Wish you all very successful investment.
BTCUSDNote
As far as RSI goes, you can expect something like this.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.