We had a 20% rise in price to $13800, then it popped back down to $11100.
We have be at the peak on a descending trend for the next couple of months.
NVT Indicator is way overbought and due for a correction.
Stoch RSI is at a peak and reversing
ADX is looking close to a peak.
The Money Flow Index is at a peak and starting to head down.
The current price is still above the regression curve line, at current date sits at $9,700.
The Puell multiple is in a high position but not yet in the red. The last time we saw it at this range we have a 40% pullback over about a 2 month period. That would put us at $8200.
Historically when we have this steep of a runup, prior to the halving, we end with a 40% correction.
I expect $8200 to be the pullback price, it would be healthy to see the price come back to the bottom trendline that started in Dec '18.
Most likely scenario is we touch back to $8200 and flatline for a couple months before moving back higher.
We have be at the peak on a descending trend for the next couple of months.
NVT Indicator is way overbought and due for a correction.
Stoch RSI is at a peak and reversing
ADX is looking close to a peak.
The Money Flow Index is at a peak and starting to head down.
The current price is still above the regression curve line, at current date sits at $9,700.
The Puell multiple is in a high position but not yet in the red. The last time we saw it at this range we have a 40% pullback over about a 2 month period. That would put us at $8200.
Historically when we have this steep of a runup, prior to the halving, we end with a 40% correction.
I expect $8200 to be the pullback price, it would be healthy to see the price come back to the bottom trendline that started in Dec '18.
Most likely scenario is we touch back to $8200 and flatline for a couple months before moving back higher.