An all time high was achieved recently at around 123k USD. A number of buyers should potentially be liquidating their profits around this region, reducing buy pressure and ultimately leading to a short term pull back maybe close to around the 110's? Price action will have to reveal more information in order to see what happens after this movement.
Trade closed: target reached
Sell closed at around 115800. Now looking at a possible chance of reversal around 116200 mark, back towards the 120k region.
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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.