Hi everyone,
Bitcoin is the king and has left everything behind. Now, how long could this bull run last? Are we done? Nobody knows, maybe only the ones that have triggered this insanity for their purposes, but let's analyze a bit the chart.
In my opinion, there is no evidence showing that the move is done. It can happen as I write, but the chart does not show evidence of that. The volume is really good, confirming all the green moves.
As I see from the indicators, each time price reached overbought area, then went into a consolidation phase, during certain time, to then continue the climb. As for the MACD, there is no divergence and it is following the price action. So, if this pattern continues, there should be some kind of consolidation phase, because bears are away (or getting rekt), and if this happens I see more likely another climb, probably to 15k, rather than a drop. I know this looks parabolic, but at the moment no signs of weakness.
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
Bitcoin is the king and has left everything behind. Now, how long could this bull run last? Are we done? Nobody knows, maybe only the ones that have triggered this insanity for their purposes, but let's analyze a bit the chart.
In my opinion, there is no evidence showing that the move is done. It can happen as I write, but the chart does not show evidence of that. The volume is really good, confirming all the green moves.
As I see from the indicators, each time price reached overbought area, then went into a consolidation phase, during certain time, to then continue the climb. As for the MACD, there is no divergence and it is following the price action. So, if this pattern continues, there should be some kind of consolidation phase, because bears are away (or getting rekt), and if this happens I see more likely another climb, probably to 15k, rather than a drop. I know this looks parabolic, but at the moment no signs of weakness.
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!