A few days ago, I told my friends that bitcoin is in a bubble territory. Check out ...
... the RSI as an Indicator/ Oscillator that I use for my TA‘s. Every time when we pass the 84 Mark we enter the bubble which also happened on Jun 2016, Dec 2016, Jun 2017 and Dec 2017. Passing the 84 mark causes always a 30% correction. Passing the 90 mark causes a way bigger correction. When this parabolic run started in September 2020, I "felt" it was too early for the next bullrun because we did not tested and confirmed a support line after breaking out from the huge triangle formation. 👀 Don‘t get me wrong, I would love to see BTC going to the moon but sometimes you gotta stay positive and be more patient when it comes to the rules of a chart analysis. TA does not "predict" any price actions. TA does price Risk Management! You gotta respect the TA! 🙌🏽 PS: Yes, I have a TA for the possible price levels for 2021 and further... Do you want to know more about it? 🍀✨✌🏽
yes please. what's your prediction 🤔?
Still looks droppy and it might fall a bit lower first. Could turn into a very good buying opportunity. Price action will follow. We have accumulated a 2 year triangle which technically could lead us to 55k. Not financial advice from my end! Other than that, I do see another big correction coming around 29k (DYOR).