pullback in the cards
Updated
looking at bitcoins exuberance in the year 2020 we are anticipating a pull back to the 8k range to confirm support. w\yess the monthly is bullish but looking at the weekly stock rsi we are potentially overdue for a correction. is bitcoin going parabolic again. i dont think so. i think the parabolic move was due to the excessive selling that happened during the month of december of 2018. now that we have the cleared out the fomo. we can have healthy price action that we should be able to read on the charts. if we take a look at the holly 4 day chart we are anticipating a pullback any day now back down to the green support lines that i have drawn out.if we take a look we have a red neutral doji candle. even though the vpvr shows little resistance above the price, all oour indicators are in the overbought section excluding the RSI so there is plenty of room to go but i anticipate a small correction to strong support level before we can break the 10k mark.
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