Time to be cautious with Bitcoin
Bitcoin still looks strong, but it's time to start preparing for a possible correction. Weekly bband breakouts have been a good indicator of local tops during this bull run. In some cases we see a correction shortly after a major breakout of the upper band, but as was shown in the highlighted area, this state can last for weeks. So this isn't a top call, but more of an indicator that it's time to be cautious. Keep a trailing stop, don't be afraid to lock in some profit, and be weary of entering if you're not in already.
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.