๐ฅ Bitcoin Breaking Out: Be Careful For FOMO!
After a strong sell-off yesterday, the bulls came out in full force and have been buying BTC in huge numbers.
In my most recent BTC analysis I talked about BTC being in a bear-flag, which it theoretically still is.
All crypto traders are currently watching this bear-flag play out. If I were a bear, I'd wait for the price to trade above this bear-flag before taking profits and starting to short. Just like we had a fake-out during last week's CPI, this break out could also end up as a fake-out.
Don't get consumed by FOMO. Wait for tomorrow morning to see what the market wants to do. If we are still above the bear-flag we could very well continue towards 25k. If not, the resistance might hold and we can move back down.
In my most recent BTC analysis I talked about BTC being in a bear-flag, which it theoretically still is.
All crypto traders are currently watching this bear-flag play out. If I were a bear, I'd wait for the price to trade above this bear-flag before taking profits and starting to short. Just like we had a fake-out during last week's CPI, this break out could also end up as a fake-out.
Don't get consumed by FOMO. Wait for tomorrow morning to see what the market wants to do. If we are still above the bear-flag we could very well continue towards 25k. If not, the resistance might hold and we can move back down.
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