Lines I drew on a chart post parabola update
Updated
I think we will ping the top of the bull run channel once more in the next day or so before correcting down or sideways towards the bottom of the bull run channel... personally I am hopium for a correction sooner than later but I am trying to be realistic.... this bull run although nowhere near over has severely overextended itself at this point and there are numerous possibilities and probabilites for massive downsides, so I reccomend limiting exposure to btc at this price point given that a nice bull trap is being fomed in this wedge that we are currently navigating... but keep in mind that there is also potential for a fomo driven breakout from the bull channel, we very nearly saw this happen last night.... If this were to occur the sky could very well be the limit in another round of price discovery resulting in institutions and fomo buyers competing to own the most expensive bag of internet money in existence. I reccomend hedging all bets both ways and personally have a bias towards shorting the current scenario.
Note
At this point I expect btc to crawl along the bottom of it's wedge in a series of narrow margin higher highs and higher lows before falling out of the wedge into oblivion... We appear to be following a similar pattern to the wedge we fell out of around december 9 (see my previous charts)
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