BitcoinUpdated Bitcoin bull move despite bearish divergence & early-stage i.e.
We can see bearish divergence across indicators + most altcoins have gained 100% in less than a month's time without correction.
Reason dictates that price cannot keep doubling every month: that would be 4096x in a year? This is early-stage irrational exuberance.
Today's close will show us which direction the market will move : 11.5k or 7k. (The latter being the case if we close below the trend line).
A clear break of 9.8k invalidates the triple combo correction pattern (to 2.5k). However, we must keep in mind that the MMs decide ultimately the price movement.
I see a lot of fomo at this point, whether this is a good thing...
Reason dictates that price cannot keep doubling every month: that would be 4096x in a year? This is early-stage irrational exuberance.
Today's close will show us which direction the market will move : 11.5k or 7k. (The latter being the case if we close below the trend line).
A clear break of 9.8k invalidates the triple combo correction pattern (to 2.5k). However, we must keep in mind that the MMs decide ultimately the price movement.
I see a lot of fomo at this point, whether this is a good thing...
Note
Note
still no confirmation yet:Either the whales are selling slowly
Or the bulls & bears are fighting
Note
rising wedge, of course it broke out
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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.