Minor Top signals triggered.
Some similarity of this parabolic bull run with the 2013-2014 parabolic climb. A significant correction back to the thick-lime 200 SMA line is plausible (followed by months of consolidation) -- which will be a lot healthier than a continued parabolic pump w/o a sufficient consolidation.
Daily Ichicloud still appearing bullish:
Bearish head-and-shoulder formation apparent on the 3 hrly (sign of momentum decelerating after having reaching a peak, but unable to sustain), with Ichicloud at risk of flipping bearish:
Measured H&S bearish target:
However, signs of bullish consolidation patterns are present in the shorter term:
A substantial pump back towards 4kUSD again would invalidate the H&S bearish view.
Some similarity of this parabolic bull run with the 2013-2014 parabolic climb. A significant correction back to the thick-lime 200 SMA line is plausible (followed by months of consolidation) -- which will be a lot healthier than a continued parabolic pump w/o a sufficient consolidation.
Daily Ichicloud still appearing bullish:
Bearish head-and-shoulder formation apparent on the 3 hrly (sign of momentum decelerating after having reaching a peak, but unable to sustain), with Ichicloud at risk of flipping bearish:
Measured H&S bearish target:
However, signs of bullish consolidation patterns are present in the shorter term:
A substantial pump back towards 4kUSD again would invalidate the H&S bearish view.
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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.