Could we see Bitcoin top this cycle between 100-110k? Can we extend much farther then that or will the power of crowds and technical analysis control the price, more so than the fundamentals and sentiment?
That would be the only reason this outcome is validated. We should want to see some confluence with on-chain metrics. We would also want to avoid bearish events. If cycle theory about #bitcoin rings true, and every cycle is a parabola, from my estimations, I would take profits in the 105k region, quite heavily. Possibly entirely risk-off until further information is gathered.
Only time will tell.
Momentum is also slowing as you can see on the RSI with a multi wear bearish divergence (although, not overly concerning right now, just means moves up possibly be less dramatic and more muted).
That would be the only reason this outcome is validated. We should want to see some confluence with on-chain metrics. We would also want to avoid bearish events. If cycle theory about #bitcoin rings true, and every cycle is a parabola, from my estimations, I would take profits in the 105k region, quite heavily. Possibly entirely risk-off until further information is gathered.
Only time will tell.
Momentum is also slowing as you can see on the RSI with a multi wear bearish divergence (although, not overly concerning right now, just means moves up possibly be less dramatic and more muted).
*Not Financial Advice*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
