If we use the True Oscillator we can see there is a significant bearish divergence on the 45 minute chart. This gives way to clear insecurity in the market. That doesn't mean that it cannot reaffirm itself, but, in reality that is quite greedy seeing as we're already so high.
All assets in the world, even these.. decentralized global assets are logarithmic. That means they have a growth curve that is exponential at first and then rounds off over time. There's only so much money in the world. As the market cap for Bitcoin climbs (which it is already quite high) it will have to convert other large cap investors from their current holdings, like gold.
Some semblance of an exodus from each asset is likely but how long that could take is indeterminable. The point is that Bitcoin can only climb so high, and it can't make sustainable climbs without cycling. If it continued upward without a brief relieving pullback, then the pullback at the top would be monstrous.
All assets in the world, even these.. decentralized global assets are logarithmic. That means they have a growth curve that is exponential at first and then rounds off over time. There's only so much money in the world. As the market cap for Bitcoin climbs (which it is already quite high) it will have to convert other large cap investors from their current holdings, like gold.
Some semblance of an exodus from each asset is likely but how long that could take is indeterminable. The point is that Bitcoin can only climb so high, and it can't make sustainable climbs without cycling. If it continued upward without a brief relieving pullback, then the pullback at the top would be monstrous.
