Tripple top and bearish divergenceShiba Inu's parabolic rise is another indicator that supports this idea. Memecoins like Shib and Doge might be indicators of the market overheating.
Overheat
$SHOP Possibly Topping Out$SHOP Possibly Topping Out - Tagged Upper Target
Left open gap down around $660 - this would be a ideal short target near term
No position and definitely a risky short...but I could see this being the near term top for SHOP today. It could use a healthy pull back / cool down over the next couple weeks.
Educational, not investment advice.
Summer Boom is about to go bust! Buy opportunity in August!** I am an experienced trader that looks at the long term. I'm often right and sometimes wrong. I do not rely on specific technical indicators, but look at long term patterns. If you're just here for short-term gains, better move along, partner. NOTHING TO SEE HERE! **
I have been trading altcoins since 2013 and am quite comfortable now. I have always been trading bitcoin based on long term patterns and in the mean time just traded alt coins. With the high dominance of bitcoin, I do not see altcoins gaining a lot of ground before the end of the year. It is quite likely bitcoin will keep increasing in value until mid December. Alt season will be in early January.
Over the years, I have noticed that each summer we reach an enthusiastic peak of the market after which we have a late summer drop which is an excellent opportunity to buy again. I'm selling now to buy back 50% more btc around 6000-6200.
**THIS IS NO TRADING ADVISE :) **
