I think this parabola is about to run out of fuel.
1) Current levels don't offer the whales enough liquidity to fill big sell orders, so we are likely taking out at least the $8400-8500 levels. Retail is more than happy to fomo-buy that breakout.
2) Ascending wedge, declining volume. Unless the volume picks up big time, it's looking bearish.
3) Bitmex funding rate based indicator is just about to give a sell signal. It has never failed during this bear market. If it fails now, it's further evidence we have switched into a bull market.
Next week we'll move to ~ $8500 - $9000 trading range. After the distribution is done, I expect to see a 30-40% correction.
This correction is the one you don't want to miss, BTFD.
1) Current levels don't offer the whales enough liquidity to fill big sell orders, so we are likely taking out at least the $8400-8500 levels. Retail is more than happy to fomo-buy that breakout.
2) Ascending wedge, declining volume. Unless the volume picks up big time, it's looking bearish.
3) Bitmex funding rate based indicator is just about to give a sell signal. It has never failed during this bear market. If it fails now, it's further evidence we have switched into a bull market.
Next week we'll move to ~ $8500 - $9000 trading range. After the distribution is done, I expect to see a 30-40% correction.
This correction is the one you don't want to miss, BTFD.