$BITCOIN
Added 2023-01-22 13:39:44 +0000 UTCI despise parabolic moves in both directions because human behaviour get's fooled time and time again with them, it's natural to jump in or jump out, especially when it's something you have been monitoring for a long time.
I am very happy to let this go if it continues this move up, I want to see structure with price action, otherwise you are just chasing.
Above $25,500 and it's in the bulls hands, rejection and this could come down hard.
Parabolic moves will always be met with a balance and if you look at the bottom of the chart, the daily RSI is at 92 now. So a pull back is due, realistically the bulls want to see a pull back now before it hit's $25,500, if it can pull back shortly, show strength, then it has a good chance of turning bullish. Otherwise, my bear case remains.
Comments
Extremely Overbought
TommyJR
2023-01-22 22:02:11 +0000 UTCa pullback is for sure due. nothing keeps going up forever. I think the crypto market is just waiting for some kind of news. possibly the FOMC or something with china and or even bidens home being raided and what will come out of that .....next few months will be volatile.
Sid
2023-01-22 17:18:36 +0000 UTC92 RSI...whew. Pullback is def due.
BHelmsUNC
2023-01-22 17:14:51 +0000 UTC
