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BTC shows extremely overbought conditions in mid-term. Also, the long-term log trendline is very close now. Some of my indicators show a price divergence - meaning a shadow sell meaning overthrow positions to less experienced traders. It's strongly recommended to perform a partial profit-taking at least.
4
In my former posts I constantly mentioned that BTC is still above of its secular bull trendline in log scale. Log scale is a must for clear and strong trend-following assets. When an asset is in a secular bull, it means general bullish market conditions. General bullish market condition means short and relatively small corrections, quick recovery with a new ATH...
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