Bitcoin is going parabolic. But it seems that its wheels could fall off soon. Stochastic shows that BTC is nearing a sell-off but I don't think it could happen today probably within 2 days. So, I suggest that if you buy now, make sure that you place a tight stop loss (2% below your buy price) as a correction could occur down to 3,500. Still, it's possible for BTC to rise higher and higher but when that happens a much bigger correction could happen.
Kommentera:
touched the support line 4 times
Kommentera:
that's bad folks
Kommentera:
what a rebound. if this end up as a dead cat bounce, then we could go lower
Kommentera:
If it breaks the current support, it could go down to the support indicated in the chart below
Kommentera:
Stochastics is pointing down. Looks like we could bounce twice
Kommentera:
Dead cat bounce was invalidated.
Kommentera:
Downtrend slope was broken.
Kommentera:
Could retest the new all time high
Kommentera:
Kommentera:
We need to watch out if price breaks below the uptrend slope.
Kommentera:
Broke the downtrend slope and going uphill. We're aiming for the supply zone near the all time high
Kommentera:
still looking up. could possibly be in a channel. could bounce once it reaches the top, but if buying demand is strong, it could to 4,400
Kommentera:
double top on 3min. could go to 4200
Kommentera:
Kommentera:
the slope is getting steeper and steeper. that is bad
Kommentera:
Nearing 3,500. If BTC bounces from the yellow line (support), we could avoid going down to 3,500. But if it goes down, we could touch 3,500 or above it.
Watch on how price moves when it reaches that blue line. When a sell-off happens, make sure to park your BTC to USD or USDT to protect your funds.