Bitcoin is being overpumped
Bitcoin has been a money pump the past week, but needs to cool off. This sets us up for an opportunity to gain some extra cash shorting the asset to previous support levels. The RSI needs to signal stability in the asset - which isn't found at the 80+ level. Volume isn't matching up with the price spike, but the overall market cap has gained 30b. Shorting the current position could give us some extra short-term cash to invest in the next run. The entry and exits are all on the chart.
Any opinions? I love to hear from the community.
Any opinions? I love to hear from the community.
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.