We came up to near $20,000 from the $12,000 breakout of the Cup&Handle pattern, but with a rapid parabolic advance.
Whenever prices change too quickly in a short period, it tends to correct hard.
Right now we're seeing similar pattern happening across the board, gold is also showing a parabolic roll over.
With that said, Bitcoin is still in a bull cycle makes it hard to short. For the moment I'm not engaged in any trade, being patient is also a part of the job.
###NOT FINANCIAL ADVICE###
Whenever prices change too quickly in a short period, it tends to correct hard.
Right now we're seeing similar pattern happening across the board, gold is also showing a parabolic roll over.
With that said, Bitcoin is still in a bull cycle makes it hard to short. For the moment I'm not engaged in any trade, being patient is also a part of the job.
###NOT FINANCIAL ADVICE###
Comment:
Double parabolic is rare and is an extremely bearish sign if it did happened like what we are seeing here. Expect a pullback to at least 20k
