Short Term Bearish | 25% retracement after a 1 Month 100% price
Happy Sunday BTC Go'ers | Short Term Bearish
Looking over the daily, BTC has been very bullish lately. I am a bit concerned that there has been little actual retracement or pullback.
Normally I would be bearish but due to BTC's scarcity and limited supply/Supply and Demand. It acts differently from traditional stocks and currencies and should weigh on your speculation/Investment.
My concern is that nothing goes up in a straight line regardless of how bad someone wants to "moon". It would be healthy if BTC consolidated, cooled off and retraced a bit before the next leg up.
From a TA perspective, It would be great to see some of these indicators including RSI set up for a more clear move. Currently most indicators are extended into the bullish Zone.
Seeing a 25% retracement after a 1 Month 100% price run wouldn't be too outlandish.
Good luck To All
Looking over the daily, BTC has been very bullish lately. I am a bit concerned that there has been little actual retracement or pullback.
Normally I would be bearish but due to BTC's scarcity and limited supply/Supply and Demand. It acts differently from traditional stocks and currencies and should weigh on your speculation/Investment.
My concern is that nothing goes up in a straight line regardless of how bad someone wants to "moon". It would be healthy if BTC consolidated, cooled off and retraced a bit before the next leg up.
From a TA perspective, It would be great to see some of these indicators including RSI set up for a more clear move. Currently most indicators are extended into the bullish Zone.
Seeing a 25% retracement after a 1 Month 100% price run wouldn't be too outlandish.
Good luck To All
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