$7500 is a major resistance at this point and the bulls are persistent. RSI is not overbought below 80%, and this sideways trading has been going on for a while. However there is a squeeze happening with a momentum upwards and closer each time to the $7500. I would have thought this pattern would have not last this long and failed to dropped between $7000 to 7200. This doesn't seem normal and the sentiments in the air is bullish.
If I was to go with my feelings, it will go past $7500 but won't hold as it might be over bought conditions. The volume is still there.
Logic says it would consolidate down to $7000 and with the bullish sentiments in the market (ETF) and it will shortly climb back up, eventually 8000 and 9000 and maybe just touch 10,000 before it hits the wall\ceiling, the drop what people perceived to be the bottom around 5000 US.
Plenty of opportunities to trade with this volatility.
If I was to go with my feelings, it will go past $7500 but won't hold as it might be over bought conditions. The volume is still there.
Logic says it would consolidate down to $7000 and with the bullish sentiments in the market (ETF) and it will shortly climb back up, eventually 8000 and 9000 and maybe just touch 10,000 before it hits the wall\ceiling, the drop what people perceived to be the bottom around 5000 US.
Plenty of opportunities to trade with this volatility.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.