Time for a correction?

Updated

I usually pull out when we are as overbought as we are now; with the RSI being in the 90s we can expect a correction in the near future in my opinion. It never ends well when you're greedy.

This is just what I have done personally, this is a great chance to get out of the market temporarily if you have not already. Long term IMO - The halvening is coming. It's time to stack not short so be wary.

Note

Looks like we are dropping as expected. The next buy area for me personally would be the 28500-30000 dollar support region. From there, we can see either two things;
one, we drop back down to mid 20k, and two, we push to 35k again, test support briefly, then fly up to 40k.

Note

Looks like the 4hr is slightly bullish, we could have another push up to 40k and just keep micro-dropping and ripping just to cool off. The macro is pretty bullish except for the fact that we are in a dangerous buy zone on the RSI and some other indicators on the daily timeframe. 40k or 30k, interested to see which one plays out for now. I'm kind of 50/50 at the moment.

Note

50/50 Tug-of-War happening. DXY is dropping, and bull flag on BTC letting it cool off a bit.

I'm now 70% sure BTC will go up from here and 30% it will drop to 30k zone first but anything is possible with crypto and stocks right now.

SimpleTradezz

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