BTC Volume Climax
Updated
The excellent Chicago CME group news has pushed BTC to extreme heights. It did so with little resistance and thus formed little support on the way up. Now we see the bull volume and interest has come to a climax and it begins to dissipate.
Low liquidity and scarcity of coins on several exchanges has allowed BTC to reach very high levels and a correction is due to ensure proper stable growth. Although the BTC fork could serve as "bad news" and an attack on Bitcoin, a correction is due regardless to allow for the market and newcomers to readjust and furthermore provide the needed liquidity.
Disclaimer: I used elliot analysis, stochastics learning via state function, RSI div, volume div to produce the time dependent trends. They could be wrong cuz maths. Bitcoin could also go to 10k instead. Guess we'll find out.
Low liquidity and scarcity of coins on several exchanges has allowed BTC to reach very high levels and a correction is due to ensure proper stable growth. Although the BTC fork could serve as "bad news" and an attack on Bitcoin, a correction is due regardless to allow for the market and newcomers to readjust and furthermore provide the needed liquidity.
Disclaimer: I used elliot analysis, stochastics learning via state function, RSI div, volume div to produce the time dependent trends. They could be wrong cuz maths. Bitcoin could also go to 10k instead. Guess we'll find out.
Note
Resistance broken, chart failed. good thing :DNote
Chart Completed.
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