In this video I show my theory on what's probably happening with BTCUSD.
It appears that Bitcoin is being used to hedge against the US Dollar crashing.
$22,000 is certain in sight and who knows it could get to $30,000 sooner than anyone might imagine.
I still think that BTC is too volatile for my liking and therefore I've stayed out. I've been happy to avoid...
In this video I try to illustrate what happens following Parabolic Price Action (when price goes vertical up or down).
In this example I show the initial move up in BTC and then roll price forward to the most recent move up in BTC. Both vertical moves were followed my reversals.
Moral of the story is when price goes Parabolic (up or down) expect a correction.