We had an Absolutely parabolic run. Still pulling back
This is just simple trend analysis. On a much larger than usual time frame.
I know a lot of people are bullish on Bitcoin right now, and rightfully so. But after parabola, we need to cool the engines before we try launching like that again.
This is the 3Day time frame with the 50MA(Green) and 200MA (Red)
We tend to ride up with 50MA after a convincing break and retest of the 200MA
I feel we need to pull back further before we go higher.
I'm interested in coming back to this in 3-12 months time and see how price reacted at these levels, or if they even made it as low as the 7K range.
Time will tell
I know a lot of people are bullish on Bitcoin right now, and rightfully so. But after parabola, we need to cool the engines before we try launching like that again.
This is the 3Day time frame with the 50MA(Green) and 200MA (Red)
We tend to ride up with 50MA after a convincing break and retest of the 200MA
I feel we need to pull back further before we go higher.
I'm interested in coming back to this in 3-12 months time and see how price reacted at these levels, or if they even made it as low as the 7K range.
Time will tell
Not Going as thought, but the 200MA has given us a lower 'target area'
Curious to see if we break down lower.