Probably nothing to worry about

Updated

Chart should speak for itself. There are also some mixed messages coming from on-chain data, one metric is suggesting that longer-term hodlers are selling (although the article goes on to say that bitcoin is "more than safe" right now): ambcrypto.com/does-this-metrics-3-month-high-raise-questions-about-how-safe-bitcoin-is/

Trade safe, not financial advice.

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and on the 1D. If history repeats - no guarantees obviously - then we could see a retrace and bounce at the .382 followed by a Jules Verne type of event

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saw someone on Twitter suggest always checking both log AND linear scale if the range you're looking at is under 300%. Looks like a good idea; here's the current situation on a linear scale.

Algo target from the previous wave up is almost exactly at the .618 retracement level around 51k. Also happens to line up pretty well with the 100% extension of the first impulse off the July low. Not only that but if you flip back to log scale that 51k is almost exactly the .707 algo target too.

An area to watch for sure.

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Current situation with TOTAL

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and, TOTAL zoomed out

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a rare call I got right :)

spatss

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