Cryptocurrency is a wild market.
During the recent rally I was monitoring the price, waiting with cash on the side line to "buy the dip" and like always the dip never came.
Instead I now identifie what can be said to be a parabola.
Meaning that buyers becomes more and more impatient and cocky.
I speculate that like all parabola it will end in an extrême price action with excessive buying from retails (Fomo) and selling from insider (Dump).
This is not a fully technical analysis, just an update on price action. Due to the May halving hype everyone should be managing risk now more than ever.
As time goes by, I will keep you updated on the evolution of the asset price, so make sure to follow me on Tradingview
Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
During the recent rally I was monitoring the price, waiting with cash on the side line to "buy the dip" and like always the dip never came.
Instead I now identifie what can be said to be a parabola.
Meaning that buyers becomes more and more impatient and cocky.
I speculate that like all parabola it will end in an extrême price action with excessive buying from retails (Fomo) and selling from insider (Dump).
This is not a fully technical analysis, just an update on price action. Due to the May halving hype everyone should be managing risk now more than ever.
As time goes by, I will keep you updated on the evolution of the asset price, so make sure to follow me on Tradingview
Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
Note
Ethereum is in a similar setup with even more strength.
Note
GBTC is breaking out
we can expect more upside
7.95 is now support.
Trade closed: target reached
that's what I call parabolic.
Don't be greedy unless you have to.
Trade active
We are almost there
don't get caught in the euphoria take profit at resistance. the top may be near.
Note
do you believe in parabola ?
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Disclaimer
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.
Related publications
Disclaimer
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.