Hi all,
as you can see we're close to crossing the middle line on the log chart. Previously crossing that line brought BTC to new all time highs. This time the divergence between the chart and RSI is clear. I can see BTC going to around 67k-68k zone bringing new all time high and then retracing back to 55k zone so the RSI can cool off for the next pump. After the retracement the FOMO and greed will skyrocket pushing it to even further highs. For now I can see 2 possibilities:
a) BTC going to 67-68k -> 55k -> 70k and beyond, this would go accordingly with TA.
b) Greed, FOMO, influx of public inexperienced investors pushing BTC even higher right after ATH without retracement. 67-68k -> 70k+.
For now it's important to watch that middle line since it's a key level.
Cheers to everyone and wish you profitable trading.
as you can see we're close to crossing the middle line on the log chart. Previously crossing that line brought BTC to new all time highs. This time the divergence between the chart and RSI is clear. I can see BTC going to around 67k-68k zone bringing new all time high and then retracing back to 55k zone so the RSI can cool off for the next pump. After the retracement the FOMO and greed will skyrocket pushing it to even further highs. For now I can see 2 possibilities:
a) BTC going to 67-68k -> 55k -> 70k and beyond, this would go accordingly with TA.
b) Greed, FOMO, influx of public inexperienced investors pushing BTC even higher right after ATH without retracement. 67-68k -> 70k+.
For now it's important to watch that middle line since it's a key level.
Cheers to everyone and wish you profitable trading.