My feeling is that BTC will probably have a retrace to $8500/$8600. Some people may call it a blood bath, I call it a needed correction.
of course i may be wrong as it was around this point in 2017 when it took off for 20k, this is purely my own opinion.
BTC just completed its first 5 wave set in a long time and again has retested the 10k mark and looks to be failing again as it has the last few times.
When something runs so hard its only natural that a correction will occur. for some reason people are happier to buy something once it starts running rather than at a point of panic.
$8500 is by no means a ' bloodbath' as I'm sure the media will report it if it happens. This would be a nice place to look at entries after taking profits at $9888 and $10044.
of course i may be wrong as it was around this point in 2017 when it took off for 20k, this is purely my own opinion.
BTC just completed its first 5 wave set in a long time and again has retested the 10k mark and looks to be failing again as it has the last few times.
When something runs so hard its only natural that a correction will occur. for some reason people are happier to buy something once it starts running rather than at a point of panic.
$8500 is by no means a ' bloodbath' as I'm sure the media will report it if it happens. This would be a nice place to look at entries after taking profits at $9888 and $10044.
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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.